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Oak Hill-Backed Checkers Starts Talks as Debt Walls Close In

Jan. 23, 2023, 9:01 PM

Checkers and Rally’s Restaurants is negotiating a plan to deal with upcoming debt maturities, according to people with knowledge of the situation.

The quick service chain, backed by Oak Hill Capital Partners, is seeking advice from Miller Buckfire & Co., said the people, who asked not to be identified because the talks are private.

Representatives at Checkers and Oak Hill didn’t respond to requests for comment. Miller Buckfire declined to comment.

Checkers is facing a $25 million revolver due in April of this year and a $192.5 million first-lien term loan due in April 2024, according to S&P ...