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FRG - Franchise Group announces sale of W.S. Badcock's retail real estate portfolio
Franchise Group Inc.
Franchise Group (FRG) said Thursday it completed the sale-leaseback of 35 retail W.S. Badcock locations for gross proceeds of ~$94M. The 35 locations are comprised of corporate and dealer owned locations. FRG expects to complete the sale-leaseback of Badcock’s distribution centers and corporate headquarters during Q2. FRG intends to use cash proceeds to repay the remaining $175M of Badcock acquisition financing.