Will Close 14 Pollo Tropical Restaurants

Fiesta Restaurant

20/12/2018 13:03

Dec 20 (Reuters) - Fiesta Restaurant Group Inc  FRGI.O :
    * FIESTA RESTAURANT GROUP INC - WILL CLOSE 14 POLLO TROPICAL
RESTAURANTS IN FLORIDA AND GEORGIA
    * FIESTA RESTAURANT - 14 CLOSED POLLO TROPICAL RESTAURANTS
CONTRIBUTED APPROXIMATELY $15.1 MILLION IN RESTAURANT SALES FOR
ELEVEN MONTHS ENDED DECEMBER 2
    * FIESTA RESTAURANT GROUP INC - EXPECTS TO RECOGNIZE
NON-CASH
IMPAIRMENT CHARGES OF APPROXIMATELY $12.0 MILLION TO $13.0
MILLION DURING Q4 OF 2018
    * FIESTA RESTAURANT GROUP INC - ACTUAL AMOUNT OF RELATED
LEASE AND
OTHER CHARGES WILL BE BASED ON TIMING OF RESTAURANT CLOSURES.
    * FIESTA RESTAURANT - NEARLY ALL EMPLOYEES IMPACTED BY
CLOSURES
WILL BE OFFERED POSITIONS AT NEARBY POLLO TROPICAL OR TACO
CABANA RESTAURANT LOCATIONS.
    * FIESTA RESTAURANT GROUP INC - EXPECTS TO RECOGNIZE LEASE
AND
OTHER CHARGES OF APPROXIMATELY $3.0 MILLION TO $3.5 MILLION
DURING Q4 OF 2018

Source text for Eikon:  ID:nBw9k5Wha 
Further company coverage:  FRGI.O 

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