Shoney's Inc. (SHOY.OB), which rearranged itself into separate operating units in 2000, said Friday that its Captain D's unit has gotten a 90-day extension on repayment of its $135 million credit facility.
The company "expects to consummate a transaction that will result in repayment of the credit facility before the maturity of March 31, 2002." The release did not provide any additional information on the nature of transaction. Captain D's debt was originally to mature on Dec. 31, 2001.
Shoney's Inc. includes 536 company-owned stores and 415 franchised stores.
Shoney's shares last traded at 28 cents. Their 52-week range is 20 cents to $1.35.