Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Kid Rock who wrote (25858)	12/2/2002 10:22:31 AM
From: LLCF	Respond to of 74559

"In-n-out" eating the "Burger space" lunch in this area. I wouldn't want to own any other franchise... they're all toast. dAK

To: Kid Rock who wrote (25858)	12/2/2002 10:45:57 PM
From: Cogito Ergo Sum	Read Replies (1) \| Respond to of 74559

Message 18293307 So many signals ......

To: Kid Rock who wrote (25858)	12/4/2002 4:21:00 PM
From: Bucky Katt	Read Replies (2) \| Respond to of 74559

Another big bankruptcy> The second-largest U.S. operator of Burger King restaurants, filed for bankruptcy protection after increased competition from McDonald's Corp. and Wendy's International Inc. led to a shortage of cash to pay off debt from an acquisition spree. AmeriKing had a $22.9 million loss in the first half of this year on $177 million in sales, according to its most recent quarterly report to the Securities and Exchange Commission. The loss from operations was $5.2 million, the company said. The closely held company is saddled with debt after borrowing more than $115 million from banks and selling $119 million in bonds to double its size since 1994. Demand for Burger King has slowed as McDonald's new low-price menus and Wendy's faster service and a new line of salads win more customers. ``This is a critical moment in our company's history,'' and restructuring will ``position us to accelerate our turnaround,'' said Joe Langteau, AmeriKing's chief executive, in a statement. He didn't immediately return a phone call seeking comment. The company, owner of 329 Burger King fast-food outlets in 12 states, slipped to second place among franchisees, behind Carrols Corp., after recent restaurant closings, said AmeriKing spokesman Ron Bottrell. Westchester, Illinois-based AmeriKing was formed in 1994 by Jordan Company LLC and a group of former Burger King Corp. executives. Miami-based Burger King's executive vice president, Ben Hirst, said in a statement the company will work with AmeriKing to restructure and is confident the franchisee can ``stabilize its business, strengthen its balance sheet and improve its operations.'' AmeriKing owes Burger King Corp. more than $5.54 million in franchise fees, court papers say. quote.bloomberg.com.