A federal judge has ruled that Checkers Drive-In Restaurants can buy the assets of a former franchisee.
The U.S. District Court for the Southern District of New York entered an order June 6 approving the sale of the assets of Titan Holdings LLC to Checkers. Checkers agreed to pay $5.3 million for the fixed assets at 62 restaurants previously operated by Titan under three separate franchise agreements with Checkers, according to terms of the deal outlined in an April 7 filing with the Securities and Exchange Commission. The restaurants are in northern, central and southern Florida, as well as Alabama and Mississippi. None are in the Tampa Bay area.
Checkers plans to operate the facilities as company-owned restaurants, the filing said.
Checkers had sued Titan in October 2005 saying Titan was in default on its agreements.
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