Founder Selling Popular SoCal Burger Chain Slater's 50/50

LOS ANGELES (CBSLA.com) – The founder and owner of high-end burger chain Slater's 50/50 is selling all six of his restaurants in San Bernardino, Orange and San Diego counties.

Scott Slater announced on the restaurant's Facebook page that he will be stepping down as president of the company and selling all his locations to the Elite Restaurant Group.

"This was by far the most difficult decision I've ever made," Slater wrote.

Slater's 50/50 first opened in Anaheim Hills in 2009. It later added restaurants in Pasadena, Huntington Hills, Rancho Cucamonga, and two more in San Diego.

"By bringing in new capital for remodels, fresh ideas and plans to rapidly expand my brand not only in Southern California but also march across the country, I am confident we are walking into the next chapter of Slater's 50/50—ready to bring our gospel of Burgers, Bacon & Beer across the country," he said.

According to the San Diego Union-Tribune newspaper, Slater has filed a California Worker Adjustment and Retraining Notification (WARN) notice, stating that he will lay off more than 700 employees In connection with the sale. According to the newspaper, however, Slater said that the Elite Restaurant Group is expected to rehire all those employees once the sale goes through.