As of Jan 27, 2017, the company operated 523 Bob Evans Restaurants in 18 states, primarily located in the Midwest, Mid-Atlantic and Southeast.
In fiscal 2016, the company opened 1 new restaurant and closed 41 existing restaurants. During the first nine months of fiscal 2017, the company opened 1 restaurant and closed 5 restaurants. On Jan 24, 2017, the company entered into a definitive agreement for the sale of Bob Evans Restaurants to Golden Gate Capital Opportunity Fund, L.P., projected to close by the end of the fiscal year.
At year-end, the company owned the real estate for 305 restaurants and leased the real estate for the remaining 222 locations. The initial terms for the majority of leases are 20 years and include options to extend the terms. Additionally, the company owns or leases 43 closed restaurants that have been marketed for sale or lease.
Most traditional Bob Evans restaurants range in size from approximately 3,600 to 6,500 square feet and average approximately 5,000 square feet, while larger Bob Evans Restaurants & General Stores, are approximately 9,800 square feet. The current prototype for new restaurants is for a 4,700 square foot freestanding building on a 1.2 acre site, with 70+ parking spots and a minimum 35,000 trade area population.
|Company-operated restaurant growth||-4.6%||-7.1%||1.1%||0.2%||-0.9%||0.4%|
|Systemwide restaurant growth||-4.6%||-7.1%||1.1%||0.2%||-0.9%||0.4%|
|Avg restaurant gross sq ft||5,100||5,100||5,100||5,100||5,100||5,100|
|Avg restaurant gross sq ft growth||0.0%||0.0%||0.1%||0.0%||-0.1%||0.0%|