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Following recent restaurant closings and reorganization efforts, Greenwood Village, Colorado-based chain <a href="https://www.redrobin.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=burger-chain-red-robin-turns-down-meeting-with-potential-buyers-2710355" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">Red Robin</a> has seen better days. Although Red Robin has not ruled out a sale completely, the brand turned down private meeting with stockholders initiated by Vintage Capital Management LLC last week. Vintage Capital is the third-largest shareholder of Red Robin stock with 1.5 million shares.

Tensions between shareholders, board members and company leadership have prolonged potential negotiations. The original offer letter, <a href="https://www.nrn.com/casual-dining/red-robin-turns-down-vintage-capital-special-meeting-request?utm_source=1851franchise.com&utm_medium=article&utm_campaign=burger-chain-red-robin-turns-down-meeting-with-potential-buyers-2710355" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">reported by Nation&rsquo;s Restaurant News</a>, stated that the company is looking to replace the current interim CEO Pattye Moore. &ldquo;It is clear that many such quality candidates are refusing to entertain the opportunity due to a lack of confidence in the Board&rsquo;s leadership and Red Robin&rsquo;s disastrous operating and market performance,&rdquo; stated the letter. 
Read the full story <a href="https://www.nrn.com/casual-dining/red-robin-turns-down-vintage-capital-special-meeting-request?utm_source=1851franchise.com&utm_medium=article&utm_campaign=burger-chain-red-robin-turns-down-meeting-with-potential-buyers-2710355" target="_blank" rel="nofollow" style="text-decoration-line:none" target="_blank">here.</a>

Burger Chain Red Robin Turns Down Meeting With Potential Buyers

1851 Franchise

The struggling full-service gourmet burger concept is being sought out by third-largest stockholders Vintage Capital, but board members are not in favor of a sale just yet.

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Burger Chain Red Robin Turns Down Meeting With Potential Buyers

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