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Food Retailing / Supermarkets

Frisch's Closes Six Restaurants

Golden Corral locations were in Ohio




Cincinnati-based Frisch's Restaurants Inc. closed six of its 35 Golden Corral restaurants this month. Four of the six underperforming restaurants were operated in the greater Cincinnati area and the remaining two were operated in West Akron and Medina, Ohio.

The company reports it will record an asset impairment charge (with related closing costs) against its pretax earnings in the first quarter (ending September 20, 2011) of fiscal year 2012, currently estimated between $3.9 million and $4.1 million.

“Looking ahead, we believe this decision will eliminate store level pretax losses of approximately $750,000 to $800,000 per year, positioning us for continued success with improved bottom line performance,” says Craig Maier, president and ceo. “Revenue generated by the six restaurants in fiscal year 2011 approximated $12.1 million.”

Frisch's Restaurants operates full-service, family-style restaurants under the name Frisch's Big Boy and grill buffet-style restaurants under the name Golden Corral in Ohio, Kentucky and Indiana.



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