April 4, 2001 |
Prandium Inc., the debt-burdened Irvine restaurant company that owns Koo Koo Roo, Hamburger Hamlet and El Torito chains, said it might have to file a bankruptcy petition to protect itself from creditors. The disclosure in its annual report Monday comes as little surprise since the company already had said it was unable to meet payments on its $238-million debt.
March 6, 2001
Prandium Inc., the Irvine operator of Chi-Chi's and Koo Koo Roo restaurant chains, reported a fourth-quarter loss of $74.3 million, or 41 cents a share, compared with a loss of $14.1 million, or 8 cents a share, in the final three months of 1999. Quarterly sales fell 41% to $75.6 million. For the year, Prandium posted a loss of $41.8 million, or 23 cents a share, compared with a loss of $36.5 million, or 20 cents a share, the previous year. Annual sales fell to $424.6 million from $536.
January 31, 2001
Restaurant operator Prandium Inc. said Tuesday that it is delaying semiannual interest payments on certain debt securities and that it has hired a financial advisor mainly to help it in discussions with holders of those securities. The Irvine operator of Koo Koo Roo, Hamburger Hamlet and Chi-Chi's restaurants said in a news release that the payments were due today and Thursday on four separate debt issues. It did not disclose the amount due or the total amount of indebtedness.
January 25, 2001 |
Prandium Inc., the company that owns the Koo Koo Roo, Chi-Chi's and Hamburger Hamlet restaurant chains, has been awash in debt. And the Irvine restaurant company's stock barely registers a blip in the over-the-counter arena. Even so, Chief Executive Kevin Relyea seems to have snared a majority stake in the company for a song. He recently acquired 95.8 million shares from an investment group for $15,000, about the price of a new Chevy Malibu. When Relyea acquired the stock Dec.
December 8, 2000
Roger K. Chamness has resigned as president of Chi-Chi's Mexican restaurants and as executive vice president of its parent, Prandium Inc. in Tustin, to pursue personal interests. Also, Prandium's chairman and chief executive, Kevin S. Relyea, has become interim president of Chi-Chi's.
July 29, 2000
Irvine restaurant operator Prandium Inc. reported Friday that it had a net loss of $6.8 million, or 4 cents a share, for the second quarter, compared with a year-earlier net loss of $4.5 million, or 2 cents a share. Sales for the three divisions operating Koo Koo Roo, Chi-Chi's and El Torito at the end of June were down 2% to $137.9 million. There were 11 fewer Chi-Chi's restaurants in the second quarter than in the same period last year, the company said.
June 29, 2000
Prandium Inc. completed the sale of its flagship El Torito restaurants for about $115 million to Acapulco Acquisition Corp. of Long Beach, an investment group that owns the rival Acapulco restaurant chain. Prandium, an Irvine-based restaurant holding company, plans to use part of the proceeds to help lighten its hefty debt load.
March 29, 2000 |
Prandium Inc., an Irvine restaurant holding company awash in debt, said Tuesday that it is selling its flagship El Torito restaurant chain for $130 million to a Long Beach investment group that owns the rival Acapulco restaurant chain. Prandium said it is selling the Mexican food chain to help pay $270 million in debt coming due over the next four years. The 101-unit El Torito chain is expected to retain a separate identity from the 49-unit Acapulco chain.