<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Frisch's Restaurants, Inc.
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
358748 10 1
(CUSIP Number)
Benjamin Nazarian
Pioneer Venture Fund
2000 Pasadena Avenue
Los Angeles, California
(213) 223-1114
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
- with a copy to -
Thomas M. Cerabino, Esq.
Willkie Farr & Gallagher
153 East 53rd Street
New York, New York 10022
June 9, 1997
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-l(a) for other parties to whom copies are
to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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SCHEDULE 13D
CUSIP No. 358748 10 1
- ----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pioneer Venture Fund
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, OO
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY
--------- ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 370,151
PERSON
WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
370,151
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
370,151
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.2%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
2
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SCHEDULE 13D
CUSIP No. 358748 10 1
- ----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Union Communications Company
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY
--------- ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 147,012
PERSON
WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
147,012
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
147,012
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
3
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SCHEDULE 13D
CUSIP No. 358748 10 1
- ----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DBN Investment Company
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY
--------- ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 15,704
PERSON
WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
15,704
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
15,704
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
4
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SCHEDULE 13D
CUSIP No. 358748 10 1
- ----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Benjamin Nazarian
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, AF, OO
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 46,324
BENEFICIALLY
--------- ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 532,867
PERSON
WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
46,324
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
555,227
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
601,551
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.4%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
5
<PAGE>
SCHEDULE 13D
CUSIP No. 358748 10 1
- ----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Dr. Pejman Salimpour
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 22,360
BENEFICIALLY
--------- ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
PERSON
WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
22,360
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
22,360
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
6
<PAGE>
SCHEDULE 13D
CUSIP No. 358748 10 1
- ----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Neil Kadisha
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 14,144
BENEFICIALLY
--------- ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
PERSON
WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
14,144
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
14,144
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
7
<PAGE>
SCHEDULE 13D
CUSIP No. 358748 10 1
- ----------- --------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Nippon Tex Inc. Profit Sharing Plan dated June 25, 1996
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 2,600
BENEFICIALLY
--------- ------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 0
PERSON
WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,600
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,600
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.04%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
8
<PAGE>
This Amendment No. 3 ("Amendment No. 3) amends the Schedule 13D (as
amended, the "Schedule 13D") filed by the Reporting Persons on February 7, 1997,
as amended by Amendment No. 1 thereto ("Amendment No. 1") filed by the Reporting
Persons on March 24, 1997, and Amendment No. 2 thereto ("Amendment No. 2") filed
by the Reporting Persons on May 16, 1997, and is being filed pursuant to Rule
13d-2 promulgated under the Exchange Act to reflect a material acquisition of
beneficial ownership of the Common Stock as well as to amend Item 4 as set forth
below. Unless otherwise indicated, all capitalized terms used but not defined
herein shall have the same meaning as set forth in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of the Schedule 13D is hereby amended by deleting the first two
paragraphs and replacing them with the following:
The total amount of funds required by PVF to purchase the Shares it
owns directly was $4,802,358.10 and was furnished from (i) a loan from UCC in
the amount of $1,801,000, as evidenced by a promissory note, a copy of which is
attached hereto as Exhibit 2 and is incorporated herein by reference, (ii) a
loan from UCC in the amount of $280,000, as evidenced by a promissory note, a
copy of which is attached hereto as Exhibit 13 and is incorporated herein by
reference, (iii) a loan from UCC in the amount of $105,000, as evidenced by a
promissory note, a copy of which is attached hereto as Exhibit 14 and is
incorporated herein by reference, (iv) a loan from UCC in the amount of
$210,000, as evidenced by a promissory note, a copy of which is attached hereto
as Exhibit 16, and (v) margin loans from Prudential Securities Incorporated
("Prudential") and Lehman Brothers Inc. ("Lehman"), made by Prudential and
Lehman in the ordinary course of their respective businesses. Copies of the
Margin Agreements between PVF and each of Prudential and Lehman are attached
hereto as Exhibits 3 and 17, respectively, and are incorporated herein by
reference.
The total amount of funds required by UCC to purchase the Shares it
owns directly was $2,069,083.73 and was furnished from margin loans from
Prudential and Lehman, made by Prudential and Lehman in the ordinary course of
their respective businesses. Copies of the Margin Agreements between UCC and
each of Prudential and Lehman are attached hereto as Exhibits 4(a) and 4(b)
respectively, and are incorporated herein by reference.
Item 4. Purpose of Transaction.
9
<PAGE>
Item 4 of the Schedule 13D is hereby amended by inserting the following
between the first and second paragraphs:
On June 9, 1997, PVF, on behalf of the Reporting Persons, delivered a
letter to the Company's Board of Directors (the "Board") (i) informing the Board
that the Reporting Persons plan to acquire more of the Common Stock, with the
present intention of having beneficial ownership of over 10% of the Company's
issued and outstanding Common Stock prior to August 8, 1997, the record date for
the Company's Annual Meeting of Shareholders; and (ii) requesting the Board's
prior approval, for the purposes of Chapter 1704 of the Ohio Revised Code (the
"ORC"), of such an acquisition of Common Stock, in order to permit the Company
to engage in "Chapter 1704. transactions," as defined under Section 1704.01(B)
of the ORC, with the Reporting Persons.
Chapter 1704. transactions are defined under the ORC to include, under
specified circumstances, mergers or majority share acquisitions, the purchase of
assets, the issuance or transfer of shares of the corporation, and various other
types of transactions. Section 1704.02 of the ORC provides that an issuing
public corporation may not engage in a Chapter 1704. transaction with an
"interested shareholder," defined as a person having beneficial ownership of ten
percent or more of an issuing public corporation's issued and outstanding shares
of voting stock, for a period of three years from the date that person first
becomes an interested shareholder of the corporation (the "share acquisition
date"), unless the directors of the corporation have approved the share
acquisition or the Chapter 1704. transaction in advance of the share acquisition
date.
While the Reporting Persons do not presently anticipate that they will
seek to engage in such transactions with the Company in the near future, they
have asked that the Board approve their planned acquisition of over ten percent
of the Common Stock, so that they may not be foreclosed from doing so if
circumstances arise which make their engaging in any such transactions
desirable.
Item 5. Interest in Securities of the Issuer.
(a) Item 5(a) of the Schedule 13D is hereby amended in its entirety to
read as follows:
The Reporting Persons beneficially own an aggregate of 618,295 Shares.
Based on information contained in the Company's
10
<PAGE>
Quarterly Report on Form 10-Q filed with the Securities and Exchange
Commission on April 22, 1997, the Shares held by the Reporting Persons represent
approximately 8.6% of the outstanding Shares.
PVF beneficially owns 370,151 Shares, representing approximately 5.2%
of the outstanding Shares. UCC beneficially owns 147,012 Shares, representing
approximately 2.1% of the outstanding Shares. DBN beneficially owns 15,704
Shares, representing approximately 0.2% of the outstanding Shares. Nazarian
directly owns 46,324 Shares, representing approximately 0.6% of the outstanding
Shares. Salimpour beneficially owns 22,360 Shares, representing approximately
0.3% of the outstanding Shares. Kadisha beneficially owns 14,144 Shares,
representing approximately 0.2% of the outstanding Shares. Nippon PSP
beneficially owns 2,600 Shares, representing approximately 0.04% of the
outstanding Shares.
By reason of the control Nazarian exercises with respect to the
investments of PVF, UCC and DBN, as described in Item 6, Nazarian may be deemed
under Rule 13d-3 ("Rule 13d-3") under the Securities Exchange Act of 1934 (the
"Exchange Act") to own beneficially all of the Shares owned by PVF, UCC and DBN.
By reason of a limited power of attorney executed by Salimpour giving Nazarian
certain powers as described in Item 6, Nazarian may be deemed under Rule 13d-3
to own beneficially all of the Shares which Salimpour beneficially owns. Thus,
Nazarian may be deemed to have beneficial ownership of 601,551 Shares,
representing approximately 8.4% of the outstanding Shares.
(c) Item 5(c) of the Schedule 13D is hereby amended to add the listing
of all transactions in the Common Stock effected by the Reporting Persons from
May 16, 1997, the date of filing of Amendment No. 2, through June 6, 1997. Such
listing is set forth on the attached Exhibit 20, which is incorporated herein by
reference. All transactions listed were made through brokers in open market
transactions effected on the American Stock Exchange.
Item 7. Material to be Filed as Exhibits.
Item 7 of the Schedule 13D is hereby amended to add the following
exhibit:
Exhibit 20 Schedule of transactions in the Common Stock by the
Reporting Persons from May 16, 1997 through June 6, 1997.
11
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: June 9, 1997
PIONEER VENTURE FUND
By: /s/ Benjamin Nazarian
-----------------------
Name: Benjamin Nazarian
Title: General Partner
UNION COMMUNICATIONS COMPANY
By: *
-----------------------
Name: Parviz Nazarian
Title: General Partner
DBN INVESTMENT COMPANY
By: /s/ Benjamin Nazarian
-----------------------
Name: Benjamin Nazarian
Title: General Partner
/s/ Benjamin Nazarian
--------------------------
Benjamin Nazarian
*
--------------------------
Dr. Pejman Salimpour
12
<PAGE>
*
--------------------------
Neil Kadisha
NIPPON TEX INC. PROFIT SHARING
PLAN DATED JUNE 25, 1996
By: *
--------------------------
Name: Eli Sassouni
Title: Trustee
* By: /s/ Benjamin Nazarian
-----------------------
Benjamin Nazarian
Attorney-in-Fact
13
<PAGE>
Exhibit 20
Schedule of transactions in the Common Stock
by the Reporting Persons
from May 16, 1997 through June 6, 1997
(i) PVF
Number of Price
Shares Per
Date Purchased Share(a)
- ------- ---------- --------
5/16/97 5,000 $14.95
5/28/97 2,500 $14.81
6/2/97 4,500 $14.56
6/4/97 2,000 $15.10
6/4/97 13,000 $15.05
6/5/97 1,000 $15.10
6/5/97 5,100 $15.35
6/6/97 1,200 $15.60
6/6/97 500 $15.73
6/6/97 1,600 $15.85
(ii) UCC
Number of Price
Shares Per
Date Purchased Share(a)
- ------- ---------- --------
5/16/97 10,000 $14.66
(iii) DBN
None.
(iv) Nazarian
None.
(v) Salimpour
None.
(vi) Kadisha
None.
(vii) Nippon PSP
None.
Note:
(a) Price includes commission.
