Worldwide Restaurant Concepts (NYSE:SZ)
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From Jul 2019 to Jul 2024
Worldwide Restaurant Concepts, Inc. Announces Engagement of
Financial Advisor
SHERMAN OAKS, Calif., Dec. 8 /PRNewswire-FirstCall/ -- Worldwide Restaurant
Concepts, Inc. (NYSE:SZ) announced today that it has retained Houlihan Lokey
Howard & Zukin as its financial advisor to assist the Company in exploring
strategic alternatives to enhance stockholder value. No assurance can be given
that any transaction will be pursued, or, if a transaction is pursued, that it
will be consummated.
In making the announcement, Chuck Boppell, CEO of Worldwide Restaurant
Concepts, stated that, "We have engaged the investment banking firm of Houlihan
Lokey Howard & Zukin to assist management and the Board in evaluating the
assets and operations of the Company in order to develop possible alternative
strategies to achieve greater stockholder value. These alternatives may
include repositioning of some or all of the Company's restaurants, a complete
or partial sale of the Company, a merger or a decision to take no action at
this time. Management and the Board believe that our stock price does not
reflect the true value of our Company and our prospects."
About Worldwide Restaurant Concepts
Worldwide Restaurant Concepts, Inc. operates, franchises or joint ventures 306
Sizzler(R) restaurants worldwide, 112 KFC(R) restaurants located primarily in
Queensland, Australia, and 22 Pat & Oscar's(R) restaurants. Additional
information about the Company can be found at http://www.wrconcepts.com/.
About Houlihan Lokey Howard & Zukin
Houlihan Lokey Howard & Zukin, an international investment bank established in
1970, provides a wide range of services, including mergers and acquisitions,
financing, financial opinions and advisory services, financial restructuring,
and merchant banking. In 2003, Houlihan Lokey ranked as the No. 1 M&A advisor
for transactions under $200 million and the No. 4 advisor for transactions
under $1 billion. The firm has been the No. 1 provider of fairness opinions
for the past four years and has the largest financial restructuring practice of
any investment bank in the country. The firm has approximately 600 employees
in nine offices in the United States and the United Kingdom. It annually
serves more than 1,000 clients ranging from closely held companies to Global
500 corporations. For more information, visit Houlihan Lokey's website at
http://www.hlhz.com/.
To the extent that certain statements contained in this document may be deemed
under federal securities laws to be forward-looking statements, Worldwide
Restaurant Concepts intends that they be subject to the safe-harbor applicable
to forward-looking statements under such laws.
For further information please contact: Keith Wall, Vice President and CFO, or
Liz Baskerville, Director, Planning, both of Worldwide Restaurant Concepts,
Inc., +1-818-662-9800; or General Information, Laurie Berman, +1-310-854-8315,
or Investors/Analysts, Tricia Ross, +1-617-520-7064, both of Financial
Relations Board for Worldwide Restaurant Concepts, Inc.
DATASOURCE: Worldwide Restaurant Concepts, Inc.
CONTACT: Keith Wall, Vice President and CFO, or Liz Baskerville,
Director, Planning, both of Worldwide Restaurant Concepts, Inc.,
+1-818-662-9800; or General Information, Laurie Berman, +1-310-854-8315, or
Investors/Analysts, Tricia Ross, +1-617-520-7064, both of Financial Relations
Board for Worldwide Restaurant Concepts, Inc.
Web site: http://www.wrconcepts.com/
http://www.hlhz.com/