CKE to Refranchise 200 Restaurants

Announces 25 Corporate Restaurants Sold to Franchisees

CKE Restaurants Inc., owner and franchisor of Carl's Jr. and Hardee's, said Monday it expects to refranchise more than 200 locations across the Midwest and Southeast. It announced the initial selling of 25 Hardee's restaurants, mainly in Atlanta, as part of a refranchising program. Restaurant sales price was not disclosed.

"CKE President and Chief Executive Andrew F. Puzder said in a statement that refranchising the markets will allow his company to focus in its core markets. He said the company is in various stages of negotiations with potential and existing franchisees for the sale of the majority of the restaurant locations."  [via AP]