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BUSINESS
September 29, 1998 | From a Times Staff Writer
Resurrecting a deal that fell apart last year, Rally's Hamburgers Inc. said Monday it will acquire Giant Group Inc. and the rest of Checkers Drive-In Restaurants Inc. that it doesn't already own for about $65 million in stock. The complex transaction completes a plan by William P. Foley II, the chairman of Carl's Jr. parent CKE Enterprises Inc. in Anaheim, to bring the operations of the two chains under one roof. Clearwater, Fla.
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BUSINESS
September 29, 1998 | From a Times Staff Writer
Resurrecting a deal that fell apart last year, Rally's Hamburgers Inc. said Monday it will acquire Giant Group Inc. and the rest of Checkers Drive-In Restaurants Inc. that it doesn't already own for about $65 million in stock. The complex transaction completes a plan by William P. Foley II, the chairman of Carl's Jr. parent CKE Enterprises Inc. in Anaheim, to bring the operations of the two chains under one roof. Clearwater, Fla.
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BUSINESS
January 7, 1997 | GREG JOHNSON, TIMES STAFF WRITER
Two CKE Restaurants executives are leaving the burger chain to fill management positions at a financially struggling Florida restaurant chain in which CKE is taking an equity position. CKE Regional Vice President Richard E. Fortman has been named president and chief operating officer of Checkers Drive-In Restaurants. CKE Chief Financial Officer Joseph N. Stein has joined the Clearwater, Fla.-based chain as executive vice president and chief administrative officer.
BUSINESS
June 17, 1997 | GREG JOHNSON, TIMES STAFF WRITER
Deal-maker William P. Foley II's fast-track plan to build a national restaurant company around his Carl's Jr. chain hit a speed bump on Monday when Rally's Hamburgers Inc. and Checkers Drive-In Restaurants Inc. abandoned a planned merger. The two companies dropped their previously announced merger after determining that the Securities and Exchange Commission planned to subject the deal to accounting methods that would cause "financial problems," the companies said.
BUSINESS
June 17, 1997 | GREG JOHNSON, TIMES STAFF WRITER
Deal maker William P. Foley II's fast-track plan to build a national restaurant company around his Carl's Jr. chain hit a speed bump on Monday when Rally's Hamburgers Inc. and Checkers Drive-In Restaurants Inc. abandoned a planned merger. The two companies dropped their previously announced plans after determining that the Securities and Exchange Commission intended to subject the deal to accounting methods that would cause "financial problems," the companies said.
BUSINESS
June 17, 1997 | GREG JOHNSON, TIMES STAFF WRITER
Deal-maker William P. Foley II's fast-track plan to build a national restaurant company around his Carl's Jr. chain hit a speed bump on Monday when Rally's Hamburgers Inc. and Checkers Drive-In Restaurants Inc. abandoned a planned merger. The two companies dropped their previously announced merger after determining that the Securities and Exchange Commission planned to subject the deal to accounting methods that would cause "financial problems," the companies said.
BUSINESS
October 11, 1997
Louisville, Ky.-based Rally's Hamburgers Inc. named William Foley II chairman as the restaurant operator pursues a plan to consolidate operations with Checkers Drive-In Restaurants Inc. Foley is chairman of Anaheim-based CKE Restaurants Inc., which operates Rally's and other restaurants. He replaces Burt Sugarman, who will remain a director. . . . Indianapolis-based Thomson Consumer Electronics offered early retirement to about 1,300 workers, or more than 40% of its salaried work force in the U.
BUSINESS
November 15, 1996 | Times Staff and Wire Reports
CKE Restaurants Inc. said it and a group of related buyers paid $35.1 million for $36 million of Checkers Drive-In Restaurants Inc.'s debt. CKE, which operates the Carl's Jr. restaurants and has a stake in the Rally's Hamburgers Inc. chain, said it and the new holders will restructure the debt with Checkers, a troubled fast-food restaurant operator. The debt cannot be converted into equity in Checkers, said Joseph Stein, CKE's chief financial officer. Shares in CKE rose 25 cents to $29.
BUSINESS
June 6, 2001 | Bloomberg News and Times Staff
Fast-food hamburger chain Checkers Drive-In Restaurants Inc. said it plans to take over 18 California and three Arizona restaurants from its biggest shareholder, CKE Restaurants Inc. in Anaheim. The Clearwater, Fla., company said CKE, owner of Carl's Jr. and Hardee's chains, has been operating 21 Rally's restaurants since 1996 under an agreement with then-troubled Rally's Hamburgers Inc., which since has merged with Checkers. CKE owns 11.2% of Checkers, down from 16.6% nearly two years ago.
BUSINESS
November 3, 1998 | Bloomberg News
Rally's Hamburgers Inc., a fast-food chain, and Checkers Drive-In Restaurants Inc. called off their proposed combination with Los Angeles-based holding company Giant Group Ltd. The three companies had announced a plan to merge in September. A "definitive merger agreement could not be finalized within the allowed time period," the companies said in a statement. The three firms, which have unsuccessfully tried to combine previously, remain linked.
BUSINESS
June 17, 1997 | GREG JOHNSON, TIMES STAFF WRITER
Deal maker William P. Foley II's fast-track plan to build a national restaurant company around his Carl's Jr. chain hit a speed bump on Monday when Rally's Hamburgers Inc. and Checkers Drive-In Restaurants Inc. abandoned a planned merger. The two companies dropped their previously announced plans after determining that the Securities and Exchange Commission intended to subject the deal to accounting methods that would cause "financial problems," the companies said.
BUSINESS
January 7, 1997 | GREG JOHNSON, TIMES STAFF WRITER
Two CKE Restaurants executives are leaving the burger chain to fill management positions at a financially struggling Florida restaurant chain in which CKE is taking an equity position. CKE Regional Vice President Richard E. Fortman has been named president and chief operating officer of Checkers Drive-In Restaurants. CKE Chief Financial Officer Joseph N. Stein has joined the Clearwater, Fla.-based chain as executive vice president and chief administrative officer.
BUSINESS
February 23, 1996 | Times Wire Services
Burger King Corp. and an executive who has experience running inner-city restaurants agreed to open at least 125 such restaurants in the next five years. The fast-food chain and La-Van Hawkins plan to open 25 restaurants in the next 18 months in Washington, Chicago and Detroit. The first will open in the U.S. capital across from Howard University. Hawkins, the founder of Urban City Foods, was responsible for Checkers Drive-In Restaurants Inc.'
BUSINESS
December 6, 2000
* Theodore Abajian has been promoted to chief executive of Santa Barbara Restaurant Group, operator and franchiser of La Salsa, Timber Lodge Steakhouse and Green Burrito restaurants. Abajian joined the Santa Barbara-based company in 1998 and most recently served as chief financial officer while holding the same position at Checkers Drive-In Restaurants Inc., a Florida-based franchiser. Orange County financier William Foley is chairman of both restaurant companies. * Black & Decker Corp.
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