Red Robin Closes Restaurants, Rebrands Others As Part Of Fast-casual Restructuring

Red Robin Gourmet Burgers Inc. said Wednesday that it's reevaluating the company's fast-casual platform, with closures and rebrandings as part of the strategy. The restaurant chain closed nine of 12 Red Robin Burger Works restaurants on September 30. The remaining three will be renamed Red Robin Express. The rebranded locations will be remodeled, with all three expected to be complete by late 2016 or early 2017. The rebrand is meant to further differentiate the company's limited-service locations from the full-service Red Robin restaurants. The first of the company's smaller, fast-casual locations opened in 2011. Red Robin shares are inactive premarket trading, and down 43.8% for the last year. The S&P 500 Index is up 8.2% for the past 12 months.

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