Checkers Drive-In Restaurants Inc. have sought out financial advisers in order to help them maneuver through the effects of the coronavirus pandemic. Their private-equity owner, Oak Hill Capital Partners, hired both an investment banker and turnaround adviser to investigate possible restructuring. Since being bought in 2017, with the sale-increase of over 3%, Checkers must still dissolve $300 million in debt that is hindering from the acquisition. 79% of the Checkers division was franchised with about 584 operating US locations. At this time, the spokesperson for the company has not mentioned whether the employees will be affected by this restructuring process.
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