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Non-Tech : KKRO Koo Koo Roo
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To: Don Schoenbeck who wrote (257)11/20/1997 12:56:00 PM
From: Fred Ayres   of 479
 
Don,

From 10Q:
During the quarter ended September 30, 1997, the Company decided to exit
three markets: Colorado, New York and New Jersey. In connection with this
decision the Company closed its only restaurant in Colorado in July 1997 and
its only restaurants located in New York and New Jersey in early October
1997. The Company also closed its only restaurant in Los Angeles which did
not conform to the California Kitchen restaurant design. The charge related
to these closings was $2.7 million and is included in operating expenses on
the accompanying statement of operations.

In April 1997, the Company approved a plan for the repurchase of up to one
million shares of the Company's Common Stock. During the quarter ending
September 30, 1997 the Company did not repurchase any shares of Common
Stock.

check out www.kookooroo.com for new stor openings under LOCATIONS.

Earnings were negative as usual. Lets hope the company improves this quarter.

Earnings were negative as usual. Lets hope the company improves this quarter.

I think its clear the KOO KOO ROO concept did not catch on in some locations. I don't know how to read this. Did the company not do an adequate market study? I believe had these mistakes not been made (seems the same ones are made over and over) the company would be in much better shape now. I conclude only poor or inept management is to blame.

Fred

Fred
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