Rumor mill: Sbarro closing some shops

A week after announcing a credit default and receiving a downgraded “junk” rating from Standard & Poor’s, Sbarro Inc. pizza chain may be closing some of its units. The 55-year-old, Melville-N.Y.-based company runs close to 1,000 restaurants in 30 countries....

Major franchise fee withheld from Yum! International

Priszm Income Fund, owner of several Canadian KFC, Taco Bell and Pizza Hut locations, has withheld a $2 million franchise fee to Yum! Restaurants International while it restructures. According to Canadian Business, Priszm also recently withheld a $975,000 interest payment,...

Sbarro defaults, hires financial adviser

Sbarro Inc. pizza chain has defaulted on a credit agreement and has hired Rothschild Inc.

Papa John’s sets operational guidance for 2011

Papa John's International Inc. has announced its projections for 2011, including a 16 percent increase in earnings per share and a global systemwide sales increase of 25 percent to 30 percent. The 2011 estimate does not include the impact of...

Mazzio’s Italian Eatery approved for franchise registry

Mazzio’s Italian Eatery, a Tulsa, Okla.-based pizza chain, is the most recent addition to the Franchise Registry, a listing of approved Small Business Administration (SBA) companies. The Franchise Registry helps small business owners through cooperation between government and industry.

Papa John's enters new $175 million credit facility

Papa John's has entered into a more flexible five-year revolving credit facility, according to Reuters. The credit line is for $175 million, and replaces one of the same amount. From the story: In a filing with the U.S.

Domino's-ACI union to allow pizza company to take new payment forms

ACI Worldwide Inc, a leading international provider of electronic payments software and solutions, has announced a partnership with Domino's Pizza to consolidate payments processing, add more features and improve personalization for customers ordering online. The new system enables Domino's to...

A good time for breakfast pizza

New York's Pulino's has been making news ever since they started offering imaginative pizzas for breakfast last fall, from savory egg-topped concoctions to fruity, fluffy interpretations. It seems only a matter of time before the rest of the industry follows...

NRA praises Senate passage of interchange fee reform

The National Restaurant Association has hailed a major victory for restaurants and other merchants with the Senate’s approval of the interchange fee provision in the final financial reform bill. The Wall Street Reform and Consumer Protection Act (H.R.

Corporate finance guru reveals the restaurant path out of recession

Consumers in search of value and quality are driving a comeback in sales in the restaurant sector, according to Bob Bielinski, managing director, corporate finance – Restaurant Industry Practice for CIT Group Inc., a provider of financing to small businesses...

Corporate finance guru reveals the restaurant path out of recession

Consumers in search of value and quality are driving a comeback in sales in the restaurant sector, according to Bob Bielinski, managing director, corporate finance – Restaurant Industry Practice for CIT Group Inc., a provider of financing to small businesses...

Lee Equity Partners secures $23.5M for Papa Murphy's

Ares Capital has announced it's providing debt financing to support the acquisition by financial sponsor Lee Equity Partners of Papa Murphy's. Ares Capital invested approximately $23.5 million in the senior secured credit facility, according to a company statement.

Lee Equity Partners secures $23.5M for Papa Murphy's

Ares Capital has announced it's providing debt financing to support the acquisition by financial sponsor Lee Equity Partners of Papa Murphy's. Ares Capital invested approximately $23.5 million in the senior secured credit facility, according to a company statement.

NPD: Restaurants likely to wean customers off discounts/deals

Restaurants across all segments of the restaurant industry offered a host of deals and discounts over the past two years to entice recession-ridden consumers to visit. With signs that the economy may be improving, restaurants now will be trying to...

Pizza Inn secures $2 million line of credit

Pizza Inn, an international pizza chain with more than 310 restaurants in 10 countries, announced a new financing agreement with Amegy Bank of Texas in a statement. The agreement provides Pizza Inn with improved financial flexibility to execute its long-term strategic plan to develop new company-owned restaurants.

Pizza Inn secures $2 million line of credit

Pizza Inn, an international pizza chain with more than 310 restaurants in 10 countries, announced a new financing agreement with Amegy Bank of Texas in a statement. The agreement provides Pizza Inn with improved financial flexibility to execute its long-term strategic plan to develop new company-owned restaurants.

Boston's shakes up top-level lineup

Boston Pizza Restaurants LP has named Mike Best, its former chief financial officer, to the role of chief operating officer, founder Jim Treliving announced. Randy Steinbrenner has also been named to the position of vice president of sales and marketing.    "Mike and Randy's significant industry experience speaks for itself," said Treliving.

Boston's shakes up top-level lineup

Boston Pizza Restaurants LP has named Mike Best, its former chief financial officer, to the role of chief operating officer, founder Jim Treliving announced. Randy Steinbrenner has also been named to the position of vice president of sales and marketing.    "Mike and Randy's significant industry experience speaks for itself," said Treliving.

Kalamazoo man to sell pizzeria for $1 -- sort of

The commercial real estate market is currently a mess, but that could be good news for someone, now that an Italian restaurant and the property it sits on near Kalamazoo, Mich., is on the market for just a dollar. Jim...

New ChefTec Reporter runs summary of sales and waste by category

A new version of restaurant reporting software ChefTec Reporter has been released by Culinary Software Services. ChefTec Reporter 2010 features increased accountability and visibility across multiple profit centers, and consolidated reporting for complex operations of any size.

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