Champps (NASDAQ:CMPP)
Historical Stock Chart
From May 2019 to May 2024
Champps Entertainment, Inc. (NASDAQ: CMPP) today announced that the
letter of intent it entered into last month with Kinderhook Industries,
LLC to sell substantially all of its assets to an investment entity to
be sponsored by Kinderhook had expired pursuant to its terms.
The Company said that a special committee of its board of directors is
continuing to pursue a sale of the Company and that it has received
indications of interest from a number of potential purchasers. The
Company said that there can be no assurance that any transaction will be
agreed upon or consummated. The special committee's process is
continuing, and the Company said it would have no further comment until
the completion or termination of this process.
About Champps Entertainment, Inc.
Champps Entertainment, Inc. owns and operates 49 and franchises/licenses
12 Champps restaurants in 21 states. Champps, which competes in
the upscale casual dining segment, offers an extensive menu consisting
of freshly prepared food, coupled with exceptional service. Champps
creates an exciting environment through the use of videos, music, sports
and promotions.
Safe Harbor Statement
Certain statements made in this press release are forward-looking
statements. These forward-looking statements are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Such statements involve certain risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Such forward-looking statements include
statements regarding our efforts to pursue a sale of the Company and
whether any transaction will be agreed upon or consummated. Information
on significant potential risks and uncertainties that may also affect
future results include, but are not limited to, those mentioned by the
Company from time to time in its filings with the SEC. The words "may,"
"will," "believe," "estimate," "expect," "plan," "intend," "project,"
"anticipate," "could," "would," "should," "seek," "continue" "pursue"
and similar expressions and variations thereof identify certain of such
forward-looking statements, which speak only as of the dates on which
they were made. The Company undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events, or otherwise. Readers are cautioned that any
such forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and, therefore, readers should not
place undue reliance on these forward-looking statements.