March 5, 1999 |
American Restaurant Group Inc. said Thursday that its fourth quarter revenue was lower than the year before due to the closure of poorly performing restaurants and sales declines at its Grandy's restaurant chain. The Newport Beach owner of restaurant chains reported revenue of $102.1 million in the period ended Dec. 28, a 4% drop from to $106.8 million in the fourth quarter of 1997.
February 5, 1998 |
Two executives at American Restaurant Group Inc. who won a $14.4-million court award against American Airlines agreed to settle the 4-year-old case, which was on appeal. As part of the settlement, both parties agreed to keep terms confidential, an American Airlines spokesman said. American Restaurant Chairman Anwar Soliman and President Ralph Roberts were awarded $19.
September 16, 1997 |
Financially troubled American Restaurant Group, seeking to ease a debt burden, has agreed to sell its 101 Black Angus steakhouses to Florida-based investors. Trivest Inc. of Miami and Miller Capital Management Inc. of Coconut Grove will buy the restaurants for an undisclosed amount, pending government approval. The transaction is expected to close by the end of this year. Officials with American Restaurant Group, Trivest and Miller Capital Management declined to comment.
April 15, 1997 |
American Restaurant Group's recurring losses from operations "raise substantial doubt about its ability to continue as a going concern," the firm's accountants warned in a report filed Monday with the Securities and Exchange Commission. The cautionary notice, reported in a regular SEC filing, said that the company suffers from a "net capital deficit, has a sinking fund payment of $41.5 million due Sept. 15, and may be required to renegotiate its senior debt if it cannot meet amended covenants."