August 5, 1999 |
Boston Chicken Inc. asked a U.S. Bankruptcy Court to approve a $140-million offer for the troubled fast-food chain from Jake Baum, a Texas-based restaurateur and investor. Judge Charles Case will hold a hearing about the offer today in Phoenix. The Golden, Colo.-based company filed for protection from creditors in October. In a motion filed Tuesday, the company said its board had accepted an offer by Baum's Boston Market Acquisitions Co.
September 28, 1995 |
IBM Names Boston Chicken Exec to Head Strategy: International Business Machines Corp. named Bruce Harreld, president of Boston Chicken Inc., its senior vice president of strategy. Harreld, 44, succeeds Jim Cannavino, who left IBM earlier this year after nearly 30 years with the company. Harreld will report to Chairman Louis V. Gerstner Jr. He spent six years at Kraft General Foods Inc. and seven years at Boston Consulting Group, moving to Boston Chicken in 1993.
January 19, 1994
Boston Chicken Inc., a rotisserie-chicken chain that recently announced plans to have Anaheim-based Carl Karcher Enterprises Inc. help it open franchise restaurants in Southern California, posted a profit of $1.7 million, or 13 cents a share, for the year ended Dec. 26. That contrasts with a net loss of $5.9 million, or 41 cents a share, for the previous year. Revenue increased to $42.5 million from $8.3 million. The company, based in Naperville, Ill., went public in November.
April 24, 1999 |
H.J. Heinz Co. agreed to a licensing agreement it expects will let it manufacture and test sales this year of branded products under Boston Chicken Inc.'s trademarks. Heinz would pay the parent of the struggling Boston Market restaurant chain undisclosed royalty fees based on sales of products to retailers under the agreement, which is subject to approval of an Arizona Bankruptcy Court. Boston Chicken said it expects the court to consider approval of the agreement May 25.
May 30, 1998 |
Boston Chicken Inc. shares lost more than a third of their value after its independent auditor expressed doubt that the operator of Boston Market restaurants can continue as a going concern. The auditor, Arthur Andersen, expressed its opinion in a Boston Chicken regulatory filing. The report heightened concern that the once-high-flying company may have little choice but to file for Chapter 11 bankruptcy protection, analysts said.
May 2, 1998 |
The two men who propelled Boston Chicken Inc. into a nationwide chain resigned and turned the reins of the struggling company over to a veteran of the family-style restaurant industry. Michael J. Jenkins, 51, was appointed chairman, chief executive and president of the Golden, Colo.-based company, one day after leaving a similar position at Vicorp Restaurants Inc., which operates more than 350 Village Inn and Bakers Square restaurants.