News

Domino’s Quarterly Sales Surge but Pandemic Costs hit Earnings; Shares Tumble But earnings fell short of expectations, hurt by higher costs, and its shares fell more than 6% in morning trading. The stock, which has a market value of $15.8 billion, has risen 36% so far this year. Here’s what the company reported compared with…

In the mid-1990s, Denny’s faced class-action lawsuits that accused the company of discriminatory actions. The family-dining leader agreed to pay more than $54 million to settle lawsuits filed by thousands of black customers who claimed they were refused service or forced to wait longer or pay more than white guests. At the time, Deval L.…

Restaurants who received funding from the Paycheck Protection Program (PPP) may soon learn if their loans have been forgiven. The U.S. Small Business Administration (SBA) began processing applications for forgiveness on Friday, with some lenders already being forwarded funds to cover loans to restaurants and other small businesses under the $670 billion program, according to…

Steve Coke, interim principal financial and accounting officer, will continue in his role as vice president of investor relations and strategy. Ms. Gugino brings to the role more than 20 years of financial management, planning and strategic expertise. Most recently, she was senior vice president of financial planning and analysis at Target Corp. Previously she…

An Oct. 8 auction to sell the assets of California Pizza Kitchen Inc., which filed for Chapter 11 bankruptcy in July, was canceled because there were no qualified bidders, according to court documents filed this week. “This was always a potential scenario that we had planned for and are still on track to exit the…

The company said it reached an understanding with its secured lenders to support restructuring. However, court documents show that Shawn Lederman, chief executive officer of Ruby Tuesday, said that 185 restaurants will be closed due to the coronavirus (COVID-19) pandemic. The company still has 236 other company-owned and operated locations along with a number of…

Golden Corral Corp.’s largest franchise group, 1069 Restaurant Group LLC, has filed for Chapter 11 bankruptcy protection, citing the impact of COVID-19 pandemic closures. Winter Park, Fla.-based 1069 Restaurant Group, which franchises 33 units of the Raleigh, N.C.-based buffet chain, said in its petition Monday that only six locations are open for dine-in service among…

Roughly 163 Pizza Hut leases have gone up for sale as part of NPC International’s bankruptcy restructuring. The bids for the currently shuttered restaurants in 26 states are due by Oct. 23, according to New York-based A&G Real Estate Partners, the firm handling the auction. The firm is advising NPC International, which filed for Chapter…

The Centers for Disease Control and Prevention and the Environmental Protection Agency have released comprehensive guidelines outlining how to keep restaurants and other food services running safely. There’s a wealth of information on how to properly clean, sanitize, and disinfect different parts of your establishment. Here’s a quick roundup of what these steps mean that…