Jack in the Box to sell ailing Qdoba fast-casual chain

In 2003, when Jack in the Box bought Qdoba, the Mexican fast-casual restaurant chain had 85 locations in 15 states. Jack in the Box built the chain out to 700 restaurants in 47 states with sales of over $800 million this year. However, sales have been slipping of late and avocado prices have doubled. Jack in the Box has agreed to sell Qdoba to funds led by Apollo Global Management for about $305 million.