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Checkers & Rally’s has hired advisers to restructure its debt in the coming weeks, CMO Dwayne Chambers confirmed to Adweek.
The drive-thru restaurant chain has aggressive growth plans for the next three to five years. Such growth, however, will require an injection of capital, which in turn will necessitate a restructuring of the company’s existing debt, Chambers said.
The fast-food company, backed by private equity firm Oak Hill Capital, hired investment bank Miller Buckfire & Co. and restructuring adviser Mackinac Partners to explore its options, according to The Wall Street Journal.
Checkers & Rally’s, which was marked as distressed before the pandemic by the major