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Article: Shoney's mulls life after debt. (Shoney's Inc.; includes related article)
- Article from:
- Restaurants & Institutions
- Article date:
- May 20, 1992
- Author:
CopyrightCOPYRIGHT 1992 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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For four years, debt has called the shots at Shoney's Inc., dictating the company's strategy and demanding a big piece of the action. But debt's grip is slipping, and as it does, the Nashville, Teen.-based company is looking to channel more resources to its restaurants.
In July 1988, Shoney's undertook a $728 million recapitalization that saddled the company with $585 million in bank debt. By all measures, the recapitalization has exceeded the company's goals: Shoney's stock price has more than tripled, and its total market value has nearly quadrupled, to more than $1 billion. To date, Shoney's is $175 million ahead of schedule in paying down its obligations, ...
Related newspaper, magazine, and journal articles:
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Article: Shoney's rejects proposal on discrimination
The Journal Record;
December 27, 1996 ;
700+ words
...Shoney's, the big restaurant chain which settled ... for a shareholder vote on a proposal at Shoney's Inc.'s annual meeting in March. The measure, if approved, would require Shoney's to account publicly for its efforts ...
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