<<i believe most of these loses are paper loses and not cash ones.
remember, company has no real debt>>
From the latest 10-Q: "based upon the trends in performance of the Boston Market system to date, the Company announced in a Form 8-K report filed May 27, 1998, that it may not remain in compliance with certain covenants contained in its senior credit facilities. If the Company is in violation of the senior credit facilities, upon action of the required number of lenders, the outstanding principal balances under the Company's revolving credit facility and other senior credit
facilities, including master lease financing, which in the aggregate totaled $241.8 million as of April 19, 1998, may be accelerated. Any such acceleration would also permit holders of other senior and subordinated debt of the Company to exercise their remedies, which include acceleration of their debt which in the aggregate totaled approximately $619.3 million as of April 19, 1998 ..." |
