Chain Operating Report
By FE&S Staff -- Foodservice Equipment & Supplies, 10/29/2008 11:14:00 AM
Chipotle and McDonald’s announced gains this week, while Metromedia files for bankruptcy.
Metromedia Steakhouses Co., L.P., which operates a chain of restaurants under the Ponderosa Steakhouse and Bonanza Steakhouse brands, filed for Chapter 11 Bankruptcy last week. The company said it will reorganize its franchise operations, which are not included in the filing, as well as a profitable core of company-owned restaurants.
Bennigan’s Franchising Co. announced it expects to close on its acquisition Oct. 31 by affiliates of Atalaya Capital, including the company’s equity, trademarks and other assets, including the Tavern and Steak & Ale brands.
Chipotle Mexican Grill announced comparable restaurant sales increased 3.1 percent for the third quarter ending Sept. 30. Revenue increased 18.9 percent to $340.5 million.
Frisch’s Restaurants Inc. reported same-store sales at Big Boy Restaurants increased 0.2 percent during the first quarter ending Sept. 23.
McDonald’s reported global comparable sales increased 7.1 percent, while sales for the United States increased 4.7 percent. Sales in Europe rose 8.2 percent, while sales for Asia/Pacific, Middle East and Africa stores increased 7.8 percent.
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