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SALE AND CLOSURE OF COMPANY-OWNED STORES | 12 Months Ended
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Dec. 29, 2013
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SALE AND CLOSURE OF COMPANY-OWNED STORES |
(12) | SALE AND CLOSURE OF COMPANY-OWNED STORES
During 2011, the Company sold 58 Company-owned stores in a series of transactions to multiple franchisees. In connection with the sale of these stores, the Company recognized pre-tax gains on the sale of assets of approximately $2.2 million, which was net of a reduction in goodwill of approximately $0.7 million. Additionally, the Company incurred other related expenses of approximately $0.3 million. These items were included in general and administrative expenses. During 2012, the Company sold its six remaining Company-owned stores in a certain market to a franchisee. In connection with the sale of these stores, the Company recognized minimal pre-tax gains on the sale of assets, which was net of a minimal reduction in goodwill. During 2013, the Company did not sell or close any of its Company-owned stores.

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