Unclear exit strategies cloud chains’ outlooks

Unclear exit strategies cloud chains’ outlooks

Able to drive the lane against his teenage grandsons while playing basketball at his Colorado vacation home, the 67-year-old franchisee of three budget steakhouses thought he was in great shape, financially and physically.

The restaurateur, whom we’ll call “Warren,” though that’s not his real name, had built a reputation as one of his brand’s most distinguished operators. He was proud of his operations, in a Mississippi River resort town area, and often told his wife he was going to

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