Cracker Barrel Sells 26 Restaurants for $77 Million, Exits Maple Street After Rebrand Backlash
Updated
Updated · Fox News · Jul 27
Cracker Barrel Sells 26 Restaurants for $77 Million, Exits Maple Street After Rebrand Backlash
1 articles · Updated · Fox News · Jul 27
Summary
$77 million from a sale-leaseback of 26 company-owned restaurants will go toward debt reduction as Cracker Barrel reshapes its business around its core chain.
Most of Maple Street Biscuit Company has been sold to Biscuit Belly, and Cracker Barrel said it will close the remaining 16 Maple Street locations to sharpen focus on its flagship brand.
The overhaul follows months of customer anger over logo changes and remodels that coincided with weaker sales, pushing the company to restore its old look and suspend the redesign effort.
Cracker Barrel now expects to meet or exceed the high end of its fiscal 2026 revenue guidance and top its adjusted EBITDA forecast, even with restaurant sales still slightly below last year.