by Nate Wooley | January 28, 2013 12:33 pm
Ground Round, which filed Chapter 11 more than a decade ago, is primed for a return to the spotlight.
The restaurant was purchased out of bankruptcy by its franchisees, reports Nation’s Restaurant News. It now has 27 restaurants nationwide and hopes to increase that number by 50% over the next few years.
The restaurant — which was spun off from Howard Johnson’s in 1969 — has agreements in place for five new restaurants in New Jersey and eight in Minneapolis-St. Paul, Minn. In all, the firm has agreements for 15 stores at the moment, four or five of which should open in 2013.
The new restaurant concept centers on a smaller, sports-themed dining experience. The prototype of the new idea will debut in Waconia, Minn. at the end of January. It will have two dining rooms — one for family dining and another for the sports clientele.
Source URL: http://investorplace.com/2013/01/blast-from-the-past-ground-round-plans-aggressive-comeback/
Short URL: http://investorplace.com/?p=297840
Copyright ©2013 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.