Advertisement

O.C. BUSINESS PLUS | ORANGE COUNTY BRIEFLY

Irvine Restaurant Firm Posts $74.3-Million Loss

March 06, 2001

Prandium Inc., the Irvine operator of Chi-Chi's and Koo Koo Roo restaurant chains, reported a fourth-quarter loss of $74.3 million, or 41 cents a share, compared with a loss of $14.1 million, or 8 cents a share, in the final three months of 1999. Quarterly sales fell 41% to $75.6 million.

For the year, Prandium posted a loss of $41.8 million, or 23 cents a share, compared with a loss of $36.5 million, or 20 cents a share, the previous year. Annual sales fell to $424.6 million from $536.6 million.

The company sold its El Torito chain in June. Bigger losses were attributed to expenses of divesting, writing down and writing off the value of various assets.

Advertisement
Los Angeles Times Articles
|
|
|