Sonfish LLC is buying 20 of 26 Captain D’s restaurants formerly owned by Serve Holdings LLC, which was previously the nation’s largest Captain D’s franchisee.
Financial terms of the court-approved transaction were not disclosed.
Memphis-based Sonfish has owned Captain D’s restaurants for 10 years. Joseph Guido, operating partner and vice president of operations, says the company is looking forward to expanding with the new restaurants.
Last year Nashville-based Captain D’s had 279 franchised stores nationally and 318 company-owned restaurants.
Memphis-based Serve declared Chapter 11 bankruptcy in December 2007. The company once had annual revenue of $21 million and 750 employees.