By Dan Modlin/AP
Bowling Green, KY – The Krystal restaurant chain is well-known in many southern states for their square-shaped, small hamburgers. Officials with the Chattanooga-based company have announced that they are seeking new ownership, and have hired the Piper Jaffray firm to assist in that search. Krystal currently operates more than 360 company-owned and franchise restaurants in eleven states, and employs more than seven thousand people.
Krystal Chief Executive Officer Fred Exum says the goal is to "deliver an attractive exit" for current shareholders and to provide a solid platform for employees to further expand the brand. Port Royal Holdings purchased the company out of bankruptcy in 1997.