Restaurant and entertainment company KLE Group has offloaded its core restaurant business that consisted of the Usain Bolt Tracks and Records (UBTR) eatery, sports bar and entertainment spot, to associated company FranJam, in a deal that frees the company’s balance sheet of the drag of the loss-making UBTR, while allowing KLE to focus on its real estate business that it considers more lucrative.

KLE owns a 49 per cent of FranJam, the vehicle through which the company’s franchising operations are executed, with entertainment promoter and businessman Joe Bogdanovich being the majority shareholder.

https://jamaica-gleaner.com/article/business/20220330/kle-offloads-usain-bolt-restaurants-stem-losses-focus-real-estate