SPARTANBURG S.C. Denny's Corp. said it is accelerating its refranchising program after selling 34 of its units to franchisees who agreed to develop another 26 stores.
The deals were the first phase of a new Franchise Growth Initiative, the company said in a statement released yesterday. It noted that the transactions involved several industry veterans, including former Denny's senior executive Craig Herman who became a new franchisee for Myrtle Beach and Charleston, S.C.; Nasir Farooqi, a former franchisee of Hardee's and Jack In The Box, a new franchisee for Southern California; and Harshad Dharod, described by Denny's as the largest franchisee of Carl's Jr.
Denny's is a family restaurant chain consisting of 488 company-owned units and 1,051 franchised units, in the United States, Canada, Costa Rica, Guam, Mexico, New Zealand and Puerto Rico.