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BUSINESS
April 15, 1997 | Greg Johnson
American Restaurant Group's recurring losses from operations "raise substantial doubt about its ability to continue as a going concern," the firm's accountants warned in a report filed Monday with the Securities and Exchange Commission. The cautionary notice, reported in a regular SEC filing, said that the company suffers from a "net capital deficit, has a sinking fund payment of $41.5 million due Sept. 15, and may be required to renegotiate its senior debt if it cannot meet amended covenants."
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NEWS
November 8, 2013 | By S. Irene Virbila
So, a French restaurant group seats guests according to how good looking they are, according to a report in the U.K.'s Daily Mail . "Guests at Le Georges, a restaurant at the top of Paris' Centre Pompidou with stunning panoramic views of the French capital, and Café Marly, near the Louvre, are given tables following a strict appearance policy - the better looking they are, the better the table," the story suggests. Quoting from the French newspaper Le Canard Enchainé, the articles goes on to say "As for the non-good-looking ones, it is imperative that they be dispatched to the corners of the room.
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BUSINESS
March 28, 2002 | MARC BALLON, TIMES STAFF WRITER
Morton's Restaurant Group Inc., a struggling high-end steakhouse operator, said Wednesday that it has agreed to be acquired by New York investment firm Castle Harlan Inc. for $53 million in cash. Morton's and many other upscale steakhouses have fallen on tough times as business travel has plummeted and corporate expense accounts have been slashed, especially after the Sept. 11 terrorist attacks. The New Hyde Park, N.Y.
NEWS
March 28, 2013 | By Mary MacVean
Ninety-one percent of thousands of children's meals at the biggest restaurant chains don't meet standards set by the National Restaurant Assn.'s own initiative for healthful kids' meals, a study out Thursday from a nutrition advocacy group says. And nine chains have no meals that meet those standards, the study says. The trade group's standards are voluntary, and it notes that among the participating chains, there are more than 340 healthful kids' items on menus. The Center for Science in the Public Interest did find some “good news” in its study: Nearly half the chains offer at least one healthier meal, said Ameena Batada, an assistant professor at the University of North Carolina who conducted the study.
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.
BUSINESS
June 21, 1988
The Pillsbury Co., which has had increasing problems with the performance of its restaurant operations in recent years, has announced the resignation of J. Jeffrey Campbell as chairman and chief executive of the restaurant group. The diversified food concern, based in Minneapolis, which gave no reason for the resignation, later announced a series of management changes.
BUSINESS
February 12, 1986 | BRUCE HOROVITZ, Times Staff Writer
One year after an acquisition binge, W. R. Grace & Co.'s restaurant group has decided to scale back by selling nearly 15% of its weaker operations, primarily in the coffee shop sector. The Irvine-based division of the New York chemical giant expects to sell 124 restaurants in fiscal 1986, which lost a combined $5 million last year, said Charles H. Erhart Jr., vice chairman and chief administrative officer of W. R. Grace.
BUSINESS
October 5, 2005 | From Reuters
Fox & Hound Restaurant Group said it had signed a letter of intent to be acquired by a private equity firm for $14 a share in cash, or about $146 million. The restaurant operator has made an agreement with Levine Leichtman Capital Partners, a Los Angeles investment firm, not to solicit alternative transactions. But it said it might terminate the exclusivity pact should it receive a higher bid. The Wichita, Kan.-based company operates restaurants under the Fox & Hound and Bailey's brand names.
BUSINESS
November 12, 1998 | (Leslie Earnest)
Santa Barbara Restaurant Group Inc. Chairman William P. Foley II has boosted his stake in the Anaheim restaurant holding company to nearly 7%. Foley, in a Securities and Exchange Commission filing made Wednesday, said he purchased 396,128 shares of the company in September at prices ranging from $3.10 a share to $4.60 a share, increasing his holdings to 458,643 shares. Santa Barbara shares closed Wednesday at $3.31, up 6 cents, in Nasdaq trading, making Foley's stake worth more than $1.
BUSINESS
July 25, 1986
Norman Habermann has been named chief executive of W.R. Grace & Co.'s Irvine-based restaurant group, the company said Thursday. Habermann, 53, replaces Anwar Soliman, who resigned last week. Habermann will oversee the New York-based chemical giant's $1-billion division of over 700 restaurants, which includes such operations as Coco's, Baxter's, El Torito and Charley Brown's.
BUSINESS
January 13, 2013 | By Christine Mai-Duc, Los Angeles Times
The gig: As founder and chief executive of Ruby Restaurant Group, Doug Cavanaugh oversees a chain of 37 Ruby's Diner restaurants in six states, including eateries at five airports. His first Ruby's Diner, which opened in 1982, was a renovated bait shop on Balboa Pier in Newport Beach that had been slated for demolition. The Irvine company celebrated its 30-year anniversary in December. Hometown boy: Cavanaugh, 56, was born and raised in Los Angeles, where he lived until he was 12, before moving to Tustin, where his mother still lives in his childhood home.
BUSINESS
December 20, 2012 | By Tiffany Hsu
Darden Restaurants Inc.'s second quarter was far from appetizing, as the owner of Olive Garden and Red Lobster watched its net income plunge 37%. The Orlando, Fla., restaurant company saw the sour numbers coming. Earlier in December, citing a litany of factors including negative blow-back over its response to the new national healthcare law, ineffective promotions and Superstorm Sandy -- for its decision to lower expectations for the quarter. The prophesies came to pass: On Thursday, Darden executives said same-store sales at U.S. restaurants open at least a year tumbled a disappointing 2.7% for its three main chains for the period ended Nov. 25. At Olive Garden, which has struggled for months to counteract disappointing sales with refreshed stores and national specials, sales sank 3.2%.
BUSINESS
December 11, 2012 | By Tiffany Hsu
The American restaurant industry is headed into a year full of obstacles, including health coverage costs related to "Obamacare," employee turnover, rising food costs and weak consumer spending. Still, the National Restaurant Assn. predicts that the country's 980,000 eateries will pull in more than $660 billion in sales in 2013 - or 3.8% more than this year's revenue stream. If the forecast is accurate, restaurants will enjoy four consecutive years of real sales growth. The industry will employ 13.1 million people in 2013, or 10% of the total American workforce, according to the Tuesday report . That's a 2.4% rate of employment growth, which is slower than the 3% pace set by restaurants this year but still much higher than the overall 1.4% rate among all employers.
NEWS
December 10, 2012 | By Jessica Gelt
The Viceroy's former chef de cuisine, Chris Crary, who earned the title of "fan favorite" on season 9 of "Top Chef," is set to helm the kitchen at a new member's only dining club in Santa Monica called 41 Ocean. 41 Ocean, which is slated to open in mid-January, is the work of Ozumo Concepts International, the hospitality group behind Sonoma Wine Garden and Ozumo. The food will be seasonal SoCal, although a menu is not yet available. The cocktail list is being created by mixologist Noah Ellis ( Red Medicine , Michael Mina restaurant group)
CALIFORNIA | LOCAL
September 21, 2012 | Betty Hallock
Campanile, the seminal Los Angeles restaurant founded in 1989 by Mark Peel and his then-wife Nancy Silverton, is closing. Prolific restaurateur Bill Chait and critically acclaimed chef Walter Manzke sealed a deal late Wednesday night to take over the space with plans to install Manzke's envisioned bistro and bakery, Republique, in its place. The storied restaurant, with its distinctly American approach using top-quality farmers' market ingredients, helped set the tone for Los Angeles dining in the 1990s.
CALIFORNIA | LOCAL
May 3, 2012 | By Anna Gorman, Los Angeles Times
A restaurant workers' group and a Los Angeles community clinic have launched a unique cooperative to provide health coverage to a group of people excluded from federal healthcare reform — illegal immigrants. The pilot program, believed to be the first of its kind in the nation, offers preventive and primary care to low-wage, uninsured workers in the restaurant industry. Legal immigrants and other restaurant workers who don't meet the criteria or cannot afford coverage under the healthcare law are also eligible.
BUSINESS
October 11, 2000 | STEPHEN GREGORY, SPECIAL TO THE TIMES
The California Restaurant Assn. has been helping the state's eateries since 1906, lobbying and providing business support services such as insurance and discounted supply networks. Membership in the private, not-for-profit organization numbers around 15,000. CRA President and Chief Executive John Dunlap recently spoke about the group's lobbying efforts and the menu of services it offers. * Q What services do you provide for your members?
BUSINESS
June 30, 1988 | Mary Ann Galante, Times staff writer
A waitress has sued Irvine-based Restaurant Enterprises Group, claiming she was handed a pink slip because management thought she was too old. Lisa Marie Belanger, who is in her early 40s, claims age discrimination, retaliatory firing and emotional distress in her Los Angeles Superior Court suit filed June 22. Belanger was laid off about two weeks ago.
FOOD
February 16, 2012 | By Betty Hallock, Los Angeles Times
Bill Chait is leading a half-dozen colleagues through a two-story factory that has been converted into lofts on the edge of downtown's Arts District. The building is the future home of his next project, a $1.2-million, 140-seat trattoria called Bestia, in the shadow of the 7th Street bridge, next to train tracks that run along the L.A. River. Among its neighbors are a furniture warehouse, a diesel gas station and an all-nude strip club. "It's the SoHo of L.A.," says Chait, a soft-spoken but steely 51-year-old with dark, side-parted hair, slightly big ears and metal-framed glasses.
BUSINESS
February 1, 2012 | By Tiffany Hsu
If the National Restaurant Assn. is right, eateries across the country will end this year with record high sales. The trade group is expecting $632 billion in revenue for the industry - a 3.5% increase over 2011. The still-shaky economy, it seems, won't be getting too much in the way. Restaurants with table service will haul in an estimated $201 billion, while fast-food joints such as McDonald's  are expected to end up with $174 billion in revenue for the year.
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