Red Robin Offloads 86 Restaurants to Slash Debt

Op Burgers leads the acquisition, purchasing 69 units across eight states including Kentucky, Indiana, and Pennsylvania for $62.5 million. Simultaneously, Kuber Oregon and Kuber Washington will take over 17 units in the Pacific Northwest for $10 million. These outlets will retain the Red Robin brand identity under their new management, ensuring continuity for customers despite the ownership change.

This divestment follows a separate agreement last month to refranchise 30 additional locations to Evergreen Dining. Chief Executive Dave Pace identified these transactions as a vital step in fortifying the company's financial foundation. With the deals expected to close in the second half of 2026, the company plans to use the capital to satisfy refinancing priorities and eventually revise its financial guidance.