Ruth’s closes $17.6M sale-leaseback deal

HEATHROW Fla. Ruth's Hospitality Group Inc. has completed the sale of five restaurant properties for $17.6 million through a sale-leaseback transaction with Sovereign Investment Co., the restaurant operator said Friday.

Proceeds from the deal were used to reduce Ruth's outstanding debt on its revolving credit facility, the company said. Ruth's Hospitality, based here, operates or franchises about 144 restaurants under the Ruth's Chris Steak House, Mitchell's

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