September 5, 1997 |
California's 350 company-owned Denny's restaurants have been sued for allegedly cheating managers out of overtime, the latest in a series of such suits against well-known companies. The suit was filed by San Fernando Valley residents Arif U. Khan and Rosa Mares, who no longer work at company-owned Denny's restaurants, said their lawyer, Clifford H. Pearson of Tarzana. Khan and Mares each earned about $35,000 a year at their old jobs.
February 4, 1997 |
Flagstar Companies, which operates the Denny's, El Pollo Loco, Carrows and Coco's restaurant chains, is considering what bankruptcy attorneys describe as a "prepackaged" Chapter 11 bankruptcy filing, according to Nation's Restaurant News. In a prepackaged filing, debtors typically enter Bankruptcy Court with a reorganization plan that's been pre-approved by creditors.
January 10, 1997 |
Kohlberg, Kravis Roberts & Co. paid just a nickel a share to solidify its control of Flagstar Cos., the debt-burdened parent of the Denny's restaurant chain. A unit of Donaldson, Lufkin & Jenrette Inc. sold 3.03 million Flagstar shares to a KKR affiliate for $151,792, according to a filing with the Securities and Exchange Commission. DLJ representatives didn't have an immediate comment about why the New York-based investment firm sold Flagstar shares for such a bargain price.
October 9, 1996 |
Carrows and Coco's, the Irvine-based restaurant chains owned by Flagstar Companies Inc., are joining the growing number of restaurants with new Spanish-language advertising and marketing campaigns. The restaurants that formerly were owned by Family Restaurants Group in Irvine soon will introduce Spanish-language newspaper inserts that incorporate discount coupons.
August 13, 1996 |
Spartanburg, S.C.-based Flagstar Companies Inc., which owns the El Pollo Loco, Coco's and Carrows restaurants, reported that the three Irvine-based chains helped to counter weak sales results at some of the company's other restaurant operations during the second quarter ended June 30. El Pollo Loco has enjoyed "exceptionally strong sales trends," according to Flagstar Chairman and Chief Executive James B. Adamson.
July 25, 1996 |
Despite signs that the California economy continues to recover, some locals remain uncertain that the state is rebounding from the economic miseries of the early 1990s. So, if it's of any comfort, two out-of-town executives who keep tabs on the Golden State from the other coast say that the recovery seems to be continuing. "I'm an outsider, but I like California," said Jim Adamson, chief executive officer of Flagstar Cos. Inc., the Spartanburg, S.C.