Brief: Fiesta Restaurant Group Announces Taco Cabana Closures

Fiesta Restaurant

13/01/2020 12:09

Jan 13 (Reuters) - Fiesta Restaurant Group Inc  FRGI.O :
    * FIESTA RESTAURANT GROUP, INC. ANNOUNCES TACO CABANA
CLOSURES
    * FIESTA RESTAURANT GROUP INC - WILL CLOSE 19 TACO CABANA
RESTAURANTS IN TEXAS, EFFECTIVE IMMEDIATELY
    * FIESTA RESTAURANT GROUP - NEARLY ALL EMPLOYEES IMPACTED BY
CLOSURES WILL BE OFFERED POSITIONS AT OTHER TACO CABANA
LOCATIONS
    * FIESTA RESTAURANT - EXPECTS TO RECOGNIZE ESTIMATED
NON-CASH
LONG-LIVED ASSET IMPAIRMENT CHARGES OF ABOUT $7.0 MILLION TO
$8.0 MILLION FROM STORE CLOSURES IN Q4 2019
    * FIESTA RESTAURANT - EXPECTS TO RECOGNIZE ESTIMATED LEASE
RIGHT-OF-USE ASSET IMPAIRMENT CHARGES OF ABOUT $1.0 MILLION-$3.0
MILLION FROM STORE CLOSURES IN Q4 2019
    * FIESTA RESTAURANT - EXPECTS TO RECOGNIZE COSTS ASSOCIATED
WITH
DE-IMAGING & REMOVING EQUIPMENT RELATED TO TACO CABANA
RESTAURANTS IN TEXAS IN Q1 2020

Source text for Eikon:  ID:nBw6vkz4na 
Further company coverage:  FRGI.O 

 ((Reuters.Briefs@thomsonreuters.com;))