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In discussing his 20 Burger King restaurants in 1984, David Murray described the competitive fight between the major hamburger chains as "pretty fierce"
But recently Murray has faced some far more demanding challenges -- a bitter labor dispute, the loss of a statewide beer distribution contract, the collapse of an $11 million company and a lawsuit. In the wake of what has been a disastrous year, it now appears Murray may be giving up the chain of fast-food restaurants he founded in 1970.
"I've got a few more grey hairs," says the CEO of Hospitality Holdings Corporation, reflecting on the events of 1988.
Hospitality, Murray's Manchester-based holding company, owns Erin Foods, which operates 28 Burger Kings in New Hampshire and northern Massachusetts. Two months ago Murray announced he had signed a letter of intent to sell the fast food subsidiary to his top managers. The sale is subject to approval by Burger King and several secured creditors, and it is unclear how much control Murray would retain after the sale....