Denny's Considers Bankruptcy. After reporting a $31.5 million loss in 2003 and struggling with declining sales and increased food costs, Denny's officials reported a slight upward trend in the beginning of 2004. The chain, however, is now looking for other ways to improve its liquidity and capital positions, including bankruptcy and reorganization.
Herman's Comes Back as a Franchise. Eight years after the bankruptcy of the 700 store chain, Herman's owners intend to take the brand directly to the people with Herman's Direct, a new franchise concept. Operating out of yellow vans, Herman's franchisees will sell and deliver sporting goods directly to leagues.
Cottman Revitalizes Its Image. Entrepreneur reports that Cottman Transmissions has recently hired Hanson Associates to update its image as it embarks on an expansion plan to open 70 new centers.
Lone Star Buys Texas Land & Cattle Restaurant Chain. For a reported $20 to $22 million in stock, Lone Star Steakhouse & Saloon, Inc. will purchase the bankrupt Texas Land & Cattle. The final price depends on the settlement of some unsecured claims and transaction costs.
Posted by franchiselawblog at March 9, 2004 09:06 AM