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.
August 20, 1997
Newport Beach-based American Restaurant Group said it is trying to sell its 101 Black Angus steakhouses to help ease a debt burden. The company disclosed in a recent Securities and Exchange Commission filing that it wants to sell the Black Angus division to meet a $41-million debt payment due Sept. 15. The company was four weeks late in making a $1.2-million quarterly interest payment due June 15, according to the filing. Black Angus generated $255 million in revenue last year.