December 9, 2004 |
Worldwide Restaurant Concepts Inc., operator of the Sizzler steakhouse chain, said Wednesday that it had hired an advisor to weigh options including a sale or merger. The struggling Sherman Oaks company retained investment banker Houlihan Lokey Howard & Zukin to develop strategies that could include a complete or partial sale. Worldwide operates or franchises 22 Pat & Oscar's restaurants, 306 Sizzlers in the U.S. and Australia and 112 franchised KFC units, mostly in Australia.
August 31, 2001 |
Sizzler International Inc., in a marketing gambit that hopes to deliver more steak than sizzle, said Thursday that it plans to change its name to Worldwide Restaurant Concepts Inc., effective Tuesday. The Culver City-based company, which has long struggled to lift its profit and stock price, said the name change would better reflect its international presence and its restaurants that aren't part of the Sizzler chain.
September 3, 2004 |
Worldwide Restaurant Concepts Inc. said Thursday that its fiscal first-quarter earnings plunged 83% as it continued to feel the effects of last year's E. coli outbreak at its Pat & Oscar's chain. The Sherman Oaks-based company earned $595,000, or 2 cents a share, in the period that ended July 25, down from $3.6 million, or 12 cents, a year earlier. Revenue grew 5% to $82 million. Worldwide operates 23 Pat & Oscar's eateries in California, 312 Sizzler steak outlets in the U.S.
November 25, 2003 |
Higher labor costs and a 6% sales drop at its Pat & Oscar's restaurant chain -- due in part to an outbreak of E. coli that sickened about 40 people -- sent fiscal second-quarter profit at Worldwide Restaurant Concepts Inc. plunging 78%, the company said Monday. The Sherman Oaks company, which also owns the Sizzler steak chain, posted net income of $318,000, or break-even on a per-share basis, for the period ended Oct. 12, compared with $1.4 million, or 5 cents, a year earlier. Revenue rose 18.
January 1, 2003 |
The Sizzler chain of steak restaurants is getting a grilling over the planned $2-billion Ahmanson Ranch residential development north of Los Angeles. It's not that Sizzler, a division of Sherman Oaks-based Worldwide Restaurant Concepts Inc., is looking to open a new location at the controversial site. Rather, Sizzler has drawn protesters because Worldwide's chairman, Phillip D. Matthews, also serves on the board of Washington Mutual Inc.