ATV Systems Inc. said Thursday that it will alter its restaurant computer systems to make them more compatible with others in the industry and will restructure its operations to put greater emphasis on marketing and product development.
The changes come a week after the Santa Ana manufacturer announced a tentative multimillion-dollar loan package that could save it from bankruptcy.
The company also said that Wendy's International Inc. has recommended ATV's computer cashier systems and those of three other companies to its 2,500 company-owned and franchised Wendy's fast-food restaurants. Placement on Wendy's recommended list might mean that business with the chain "could nearly double or triple within the next quarter," said Robert F. Brown, who was recently named ATV's vice president of marketing and sales as part of the corporate reorganization.
ATV makes counter-top and accounting systems for restaurants. Brown said that ATV's systems could not be operated without the company's software, but that now they will use standard software. This will make them more compatible with other available systems, he said.
In the changes announced Thursday, ATV's marketing group will absorb the software engineering department, and a business development group has been formed to work with major clients in creating new products.
Needs Creditors' Cooperation
Brown said the "significant changes" under way at ATV are aimed at "organizing for growth," which hinges on completion of the $20-million financing deal.
The tentative agreement with an unidentified group of investors depends on the company's ability to persuade its present creditors to accept reduced payment of ATV's outstanding bills. ATV owes suppliers $8 million and has outstanding bank loans and notes that total $8.8 million. The company's most recent financial statements show liabilities of $25 million and assets of just $8 million.