According to three sources who were familiar with the matter, Checkers Drive-In Restaurants Inc has made some steps in preparation for an initial public offering (IPO). The sources also said the IPO might be done later this year. The Tampa, Florida-based restaurant chain has over 800 restaurants under names Checkers and Rally's across United States. The US hamburger chain owned by Wellspring Capital Management had already hired investment bank Piper Jaffray and Jefferies to aid the company with the public offer.

The sources added that the move for an IPO followed when Wellspring had failed to sell the company last year. 

Checkers is among the rash of restaurant chains who had gone public recently. Companies who went public were Del Frisco's Restaurant Group Inc, Outback Steakhouse parent Bloomin' Brands Inc, Noodles & Co and Chuy's Holdings Inc. 

Wellspring refused to comment on its reported IPO plans. Piper Jaffray was unavailable for comment, while Jeferries declined to comment.