Cracker Barrel is reshaping its business by selling Maple Street Biscuit Company and shutting down 16 locations, part of a broader effort to strengthen its finances. The company said the moves are aimed at cutting debt and improving profitability as it adjusts its restaurant portfolio.
According to the announcement, Cracker Barrel sold 35 Maple Street locations, effectively exiting that business. The decision signals a sharper focus on its core brand while stepping away from a concept it had previously added to expand beyond its traditional Southern country-themed restaurants.
The company is also raising about $77 million through a property transaction. That cash is expected to help pay down debt, giving the chain more financial flexibility as it works through a tougher operating environment and tries to improve overall performance.
Together, the asset sale, store closures and property deal show a company moving to simplify operations and shore up its balance sheet. For Cracker Barrel, the strategy appears centered on reducing financial pressure and concentrating resources on the parts of the business it believes can deliver better returns.
