How Bill Foley built a fast-food empire on ailing also-rans; he found a cheaper entree to the glutted industry and improved the menu; seeking a mate for Carl's Jr

Article Abstract:

Little-known CKE Restaurants Inc. and its CEO William P. Foley II have been scooping up old, tired fast-food restaurant chains and making an impression on Wall Street. After acquiring ailing Hardee's and giving it a burger-lift, the customers have been returning, and McDonald's has noticed. Foley's next interest is in Long John Silver's and maybe some other "goofed-up" chains that should be cleaning their bathrooms and keeping the grills operative and retaining good employees.

Strategy & planning, Acquisitions & mergers, Limited-Service Restaurants, Fast Food Hamburger Restaurants, Planning, Mergers, acquisitions and divestments, Fast food restaurants, Restaurant management, CKE Restaurants Inc.

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Planet Hollywood to take charge of $160 million

Article Abstract:

President and COO of Planet Hollywood Inc. William H. Baumhauer tries to put a positive spin on the financial picture his chain is currently painting, but S&P lowered its corp. credit rating and analysts aren't terribly optimistic. The chain has much more in liabilities than it has cash, so further changes are planned; it will take a pretax charge for fiscal Q4, sell some assets and update its menu.

Comment:

Restaurant chain could run out of cash before it can fix everything

Food Services and Drinking Places, Financial analysis, Eating Places, Finance, Restaurant industry, Restaurants, Chain restaurants, Restaurant chains, Planet Hollywood Inc.

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