Food & Beverage

New York investment group pays $49M for Krystal chain

May 15, 2020

Dunwoody, Georgia-based Krystal Burger – which has remained open after filing for bankruptcy – has been sold to New York-based Fortress Investment Group for $49 million, including some debt cancellation, according to the Atlanta Journal-Constitution.

The chain said in court documents that though its owner may close some properties most of its 300 locations remain open, with 42 in the Atlanta area alone. The sale was approved Wednesday by a U.S. Bankruptcy Court judge.

Fortress agreed to keep Krystal’s employees at their current pay and to pay about $1 million to NCR to settle outstanding debts. At the time of this writing, QSRweb had not received a response to requests for comment from the company.