FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): AUGUST 13, 1997
STOICO RESTAURANT GROUP, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 333-5488-D 48-1177558
(State of other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
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3151 NORTH ROCK ROAD, WICHITA, KANSAS 67226
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (316) 636-5776
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N/A
(Former name or former address, if changed since last report.)
ITEM 5. OTHER EVENTS:
1. The Company announced that a lawsuit has been filed
in Sedgwick County, Kansas against the Company and
others by a group of shareholders seeking to
represent the class of shareholders that purchased
shares of the Company's stock in the registered stock
offering concluded late last year. The petition
alleges that certain statements made by the Company,
certain officers, and the underwriter were untrue or
misleading. The Company intends to defend this
lawsuit vigorously.
2. In a move to reduce expenses, the Company has closed
one Spaghetti Jack's Restaurant located in Wichita,
Kansas, one Sub & Stuff located in Oklahoma City,
Oklahoma and one located in Ada, Oklahoma. The
Company is also in the process of relocating it's
corporate office located at the same location of the
Spaghetti Jack's restaurant. Sales volumes at the
restaurants did not justify continuing operations and
the overall rent levels at the Wichita site.
The Company also announced that it is monitoring
sales levels at certain other restaurant locations
and is considering additional closings of under-
performing units.
STOICO RESTAURANT GROUP, INC.
/s/ Louis Stoico, Jr.
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Louis Stoico, Jr., Chairman of the Board
Date: August 28, 1997
