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Red Robin Cuts Growth in Half

GREENWOOD VILLAGE, CO-The company is opening between 20 and 22 new restaurants this year, down from 42 in 2008.

By Debra Hazel | Updated on February 20, 2009

GREENWOOD VILLAGE, CO-Red Robin Gourmet Burgers is slowing growth for 2009, executives said at the company’s fourth quarter conference call.

During fiscal year 2009, the Company now expects to open 13 to 14 new company-owned units, and franchisees are expected to open seven to eight new restaurants. Last year, 31 company-owned and 10 franchised locations were opened. Plans for 2010 have yet to be determined, but consolidation and acquisition opportunities in the coming year could range from conversions of former restaurants and shopping center end-caps to freestanding restaurants.

“We expect to have many options available to us,” said Dennis Mullen, chairman and chief executive officer.

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