CKE to Help Restructure Checkers’ Debt

CKE Restaurants Inc. said it and a group of related buyers paid $35.1 million for $36 million of Checkers Drive-In Restaurants Inc.’s debt. CKE, which operates the Carl’s Jr. restaurants and has a stake in the Rally’s Hamburgers Inc. chain, said it and the new holders will restructure the debt with Checkers, a troubled fast-food restaurant operator. The debt cannot be converted into equity in Checkers, said Joseph Stein, CKE’s chief financial officer. Shares in CKE rose 25 cents to $29.50 on NYSE. Clearwater, Fla.-based Checkers has about 500 fast-food restaurants.