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Jack in the Box explores sale

Burger chain Jack in the Box Inc. is exploring strategic and financing options, including a possible sale of the company.

In a Dec. 17 statement, the company said it has held discussions with potential buyers, but there is no assurance that a deal will be reached.

Jack in the Box said it plans to have a new capital structure in place by the end of the first half of fiscal 2019 in the absence of a strategic transaction. That capital structure could include, among other things, a securitization or bond issuance.

The National Jack in the Box Franchisee Association in October urged the company to replace its CEO Leonard Comma and change the management team.

The company's shares were up 3.68% to $83.28 as of 10:37 a.m. ET on Dec. 17.