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Bankruptcy Court OKs Sizzler Reorganization

June 05, 1997|(Nancy Rivera Brooks)

U.S. Bankruptcy Court in Los Angeles approved the final restructuring plan of the Sizzler International restaurant company, which will allow Sizzler to emerge from Chapter 11 bankruptcy protection in about a month. Under the plan, Sizzler will repay creditors the full $95 million owed. In addition, Sizzler announced that the West Los Angeles company's chairman, James A. Collins, has assumed the post of chief executive. Christopher Thomas, formerly chief financial officer of Sizzler International, has been named president and chief executive of Sizzler's domestic operations. Kevin Perkins, who was president and chief executive of Sizzler International, has become president and chief executive of Sizzler's foreign operations.

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