One of the South's favorite breakfast joints is having to 'risk it to get the biscuit' after a tough financial quarter, the Charlotte Observer is reporting.
Bojangles' announced it was closing 10 underperforming restaurants and is getting rid of some menu items with sluggish sales at company-operated restaurants in a recent earnings report, the paper says.
C.L. King analyst Michael Gallo told the Charlotte Observer, these moves could mean Bojangles' is "clearing the decks" for a possible takeover, referencing Advent International, the private equity firm that owns most of Bojangles' shares.
The four items that will be taken off the menu are the:
- Jambalaya bowl
- Smoked sausage biscuit
- Barbecue pork sandwich
- Cheddar Bo Biscuit
During the second quarter earnings call, Interim CEO James Kibler called the four 'very slow-moving' and 'operationally complex.'
It isn't known what specific Bojangles' locations will close. The report says the closures are 'across four states in our adjacent markets.'
Bojangles' was founded in Charlotte in 1977 and went public in 2015. Former CEO Clifton Rutledge stepped down in March.