Red Robin Gourmet Burgers, Inc. Announces Board Changes Following Completion of Refinancing
PR Newswire•27/10/2026•17:30 ET
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Key Highlights
- ➤$115 million refinancing facility replaces prior credit agreement
- ➤More than 100 company-operated restaurants sold through refranchising
- ➤James Pappas and Chris Martin resigned from Red Robin’s board
- ➤New facility includes $90 million term loan and $25 million revolver
- ➤Board decreases to six directors, five independent
Expert Statements
James Pappas, Managing Member of JCP Investment Management
“When we invested in Red Robin, we saw an iconic brand with a clear opportunity to improve operations and strengthen the balance sheet”
Chris Martin, Managing Director of Jumana Capital
“Dave Pace and his team have executed on that opportunity.”
James Pappas, Managing Member of JCP Investment Management
“The operational improvements and refranchising program culminated in a lower-cost commercial bank refinancing, which positions management to focus on growing the business rather than managing leverage.”
Chris Martin, Managing Director of Jumana Capital
“The operational improvements and refranchising program culminated in a lower-cost commercial bank refinancing, which positions management to focus on growing the business rather than managing leverage.”
Dave Pace, CEO and president of Red Robin
“On behalf of our management team and our Board, I want to express our appreciation for James and Chris and their contributions and collaboration in the boardroom and their unwavering confidence in the management team as we navigated a highly complex path to firming up our balance sheet and our financial foundation”
James Pappas, Managing Member of JCP Investment Management
“This is the right time for us to step off the Board.”
Chris Martin, Managing Director of Jumana Capital
“We have great confidence in the leadership team and our fellow directors, and we believe Red Robin is well positioned to build on its momentum.”
Red Robin Gourmet Burgers, Inc. Announces Board Changes Following Completion of Refinancing PR Newswire
James C. Pappas and Christopher Martin step down from Board of Directors
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