Jack in the Box to sell 55 c-stores
San Diego Jack in the Box Inc. announced Friday it has entered into an agreement to sell 55 of its 61 Quick Stuff convenience stores and gas stations to an undisclosed buyer.
The all-cash transaction is expected to be completed by the close of the company's fiscal year ending Sept. 27, 2009, according to a report by CSP Daily News.
In addition, the company is currently in negotiations with several other bidders on the remaining Quick Stuff sites and also expects to complete the disposition of those locations by the end of the current fiscal year. According to the report, Jack in the Box does not intend to sell any of its namesake restaurants adjoining the Quick Stuff locations in connection with these transactions.