More than five years after announcing that it intended to sell its chain of Pargo's Restaurants, Shoney's Inc. said Monday that it will sell its 11 Pargo's to privately held Slade's Inc. The price of the sale was not disclosed. Pargo's generated $23 million in sales during the nine months ended October 31, 1999, but same-store-sales fell 2.7% from the year-earlier period.

"We believe our resources would be best allocated to our core business units as we revitalize Shoney's Restaurants and grow Captain D's," Shoney's Chairman Ray Schoenbaum said in a release. "These two concepts are the bread and butter of Shoney's Inc."

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