Quincy's - Surplus Solutions
aides a failing chain
ASSIGNMENT: Upon the sale of the Quincy's
Restaurants regional buffet chain, management directed the closure
of 63 operating facilities; 90% were fee owned, 10% were leased.
Converting these assets to cash was critical to the ongoing viability
of the company. All units were large (7500 sf), old (20 yrs) with
significant deferred maintenance issues and dated decor.
RESULTS: Surplus Solutions sold 54 of
57 fee owned properties within one year of assignment. Average sale
prices were in excess of 85% of the asking price. In addition, Surplus
Solutions subleased 3 units and successfully terminated 2 leases.
Brands - Surplus Solutions
provides ongoing role of profit center
ASSIGNMENT: Since 1994, Surplus Solutions
has been YUM! Brands surplus properties disposition vendor of choice,
providing our client with a steady stream of income through the
sale of excess properties, while stemming long term liabilities
through diligent lease termination efforts and aggressive subleasing.
RESULTS: All tolled, we have generated
over $125 Million in fee property sales, while producing savings
of over $15 Million for Pizza Hut, Taco Bell, KFC, Long John Silver's
& A&W Root Beer.
- Surplus Solutions provides
outsourced expertise on a project basis
ASSIGNMENT: In an effort to reinvent
itself as a leading edge restaurant concept, ten underperforming
facilities ceased operations across a four state territory. Surplus
Solutions was tapped for their expertise in geographically diverse
disposition projects and their experience in managing challenging
RESULTS: Surplus Solutions subleased
five units in excess of 90% of the asking price, while terminating
the remaining four leases. Sublease revenue generated exceeded $1.75
Million, while net lease termination savings after expenses exceeded