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Jimmy Buffett sells restaurant chain

6/17/2014
Jimmy Buffett sells restaurant chain © AP Jimmy Buffett sells restaurant chain

WENN

Singer Jimmy Buffett is in line for a big payday after his themed restaurant chain was sold off for $11 million.

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In 2002, Buffett founded the Cheeseburger in Paradise company, inspired by his hit song of the same name, and it now has locations in 14 states.

He sold part of the chain to Paradise Restaurants Group LLC in 2009, but still received a portion of the profits, and he will now take a slice of the price paid by rival diner giant Luby's Inc., which has acquired the brand, according to Reuters.

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