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Non-Tech : Boston Market (BOSTQ)
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To: IN_GOD_I_TRUST who wrote (1368)6/26/1998 10:04:00 PM
From: Sr K  Read Replies (1) of 1567
 
Not too surprising. They could never hit $18,000 per week this quarter, and the increasing amounts in subsequent quarters. But the word "likely" was a surprise: In the event of any acceleration of senior debt of Boston Chicken or other attempted exercise of remedies by creditors under the 1995 Master Lease or the 1996 Credit Facility, Boston Chicken would likely be forced to seek protection under the federal bankruptcy laws. It seems to me the lawyers chose to use "likely" either (a) to make sure remaining stockholders know what's about to happen, or (less likely)(b) to negotiate with creditors to avoid bankruptcy. or (c) both. The prior paragraph ends with "Any such refinancing, restructuring or additional financing may entail
significant equity dilution to the holders of Boston Chicken's common stock at that time". This was known by the terms of the BOSTL LYONs.

And either way, the stock will likely set new lows.
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