Six restaurant chains announce expansion plans,menu expansion and financial results.
Beef 'O' Brady's, the 220-unit franchise of family sports pubs and restaurants, signed its franchise agreement in Batesville, Ark., with franchisee Chuck Sweet. The Batesville restaurant will be built with Beef 'O' Brady's new prototype in mind, which includes new color and design elements to refresh the restaurant's appeal while catering to a wider array of casual diners.
Buffets, Inc., a privately held restaurant company whose brands include HomeTown® Buffet, Old Country Buffet® and Ryan's®, is exploring strategic alternatives aimed at increasing shareholder value. While the company maintains a positive outlook for its performance as a stand-alone entity, Buffets Inc. has retained Moelis & Co. as its financial advisor to review the viable alternatives, including a possible sale of the restaurant chain, according to company release.
Jamba Juice (NASDAQ: JMBA), announced plans to expand its Whirl'ns™ Frozen Yogurt. The chain introduced the line of frozen yogurt treats in December 2010 in 22 Sacramento area Jamba Juice stores. Jamba decided to expand the line into more than 100 additional stores in the chain's Los Angeles and San Diego markets. The Whirl'ns line features 10 signature flavors and some seasonal ones.
Pizza Inn, Inc. (NASDAQ:PZZI) opened a location in Rocky Mount, N.C., which the company says is the chain's largest location to date. Steve Stancil, who joined Pizza Inn in 1974 and became a franchisee in 1985, runs this location, which measures 9,000 square feet and seats 324 people.
Sbarro, Inc. has consensually terminated its prepetition plan support agreement and equity commitment agreement with Ares and MidOcean in order to explore other strategic alternatives, including discussions with a qualified bidder who has expressed preliminary interest in acquiring the company. In addition, Sbarro continues to negotiate with its prepetition creditors to pursue a stand-alone plan of reorganization. Sbarro filed for bankruptcy protection on April 4, 2011.