Other News Feeds Nations Restaurant News - Financial News Feeds   Financial News Financial News Starbucks to close 600 stores Starbucks Corp. on Tuesday announced that it planned to close 600 domestic company stores, which is 500 more than the coffeehouse giant had previously targeted for closure. Officials also said the company would cut back further on new openings planned for fiscal 2009. Report: Krispy Kreme gets $500M buyout bid Krispy Kreme Doughnuts Inc. reportedly received on Sunday night a $500 million unsolicited, and some say questionable, buyout offer from a private-equity group. The news sent Krispy Kreme’s stock surging as high as 12 percent on Tuesday. UPDATE: Krispy Kreme reportedly gets $500M bid from surprising source A 23-year-old North Carolina man who reportedly has multiple aliases and legal troubles is said to be behind the $7.25-per-share buyout offer made Sunday to Krispy Kreme Doughnuts Inc. CBRL lowers expectations on soft sales CBRL Group Inc., operator of the 577-unit Cracker Barrel Old Country Store chain, on Tuesday reduced its full-year profit and revenue guidance and said June same-store sales were below company expectations. DineEquity sells 26 Applebee's units to franchisee Applebee’s parent DineEquity Inc. has completed the sale of 26 company-owned restaurants to Southern California franchisee Apple American Group LLC for an estimated $27 million in after-tax cash that will be applied toward the company’s $350 million of consolidated debt, officials said Tuesday. Sam Seltzer’s, regional steak chain, files for bankruptcy Sam Seltzer’s Steakhouses of America Inc. filed for Chapter 11 bankruptcy protection on Friday, obtaining a $1 million credit line to support it during its restructuring. The nine-unit operator said in filings that it was forced to seek protection from creditors by debt from a previous expansion and the consumer fallout from weak economic conditions and the rise in fuel costs. Still-growing chains bullish about prospects to gain market share With consumer confidence at a 16-year low, fewer families dining out and oil prices spiking above $130 a barrel, the time seems right for restaurant companies to retrench, not grow. Kona Grill rejects buyout bid Kona Grill Inc., owner of 19 grill-sushi casual-dining restaurants, rejected last month a going-private buyout offer from investor Mill Road Capital LP, according to a late Thursday filing with the Securities and Exchange Commission. Cost controls help CKE post profit jump CKE Restaurants Inc. posted an 8.3-percent jump in its first quarter profit as menu price increases, cost control measures and a large share repurchase plan helped to offset the slowed sales and the growing operating and commodity costs plaguing most restaurant companies. Sonic profit slips in 3rd-Q Sonic Corp. on Tuesday reported its net income fell 16.5 percent in the third quarter as "lower-than-expected sales" and rising costs offset a slight increase in revenue.