Noble Roman’s explores ‘strategic alternatives’

INDIANAPOLIS Noble Roman’s Inc., the franchisor of about 1,000 namesake pizza outlets and Toscano Italian Style Subs in 45 states, said it was “evaluating strategic alternatives to enhance shareholder value,” a term that often foreshadows a sale or refinancing.

Roth Capital Partners of Newport Beach, Calif., has been retained as a financial adviser to assist in the effort, the company said in a statement.

Noble Roman’s carries roughly $5.5 million in

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