SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): November 30, 1997
MERITAGE HOSPITALITY GROUP INC.
- --------------------------------------------------------------------------------
(Exact Name of Registrant as Specified in Charter)
Michigan
- --------------------------------------------------------------------------------
(State or Other Jurisdiction
of Incorporation)
0-17442 38-2730460
- --------------------------------------------------------------------------------
(Commission File Number) (IRS Employer
Identification Number)
40 Pearl Street, N.W., Suite 900
Grand Rapids, Michigan 49503
- --------------------------------------------------------------------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (616) 776-2600
<PAGE>
Item 2. Acquisition or Disposition of Assets
On November 30, 1997, the Company sold real and personal property owned by
its wholly-owned subsidiary, St. Clair Inn, Inc., including (i) the hotel and
restaurant facility (known as the St. Clair Inn) located at 500 North Riverside,
St. Clair, Michigan, (ii) the fixtures, furniture, furnishings, equipment and
supplies used in the operation of the hotel and restaurant, and (iii) the
remaining real and personal property owned by St. Clair Inn, Inc. which is
located adjacent to the hotel (the "Assets"). The Assets were sold to Waterfront
Hotel Ventures, L.L.C. and an affiliate, S.C. Land Acquisitions, L.L.C., both of
whom have no relation to the Company. The Assets were sold for $3,800,000 in
cash pursuant to the terms of purchase and sale agreements dated October 22,
1997.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
The Company will file the required financial information no later than
February 13, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
MERITAGE HOSPITALITY GROUP INC.
Dated: December 15, 1997 By: /s/ Christopher B. Hewett
-------------------------------------
Christopher B. Hewett
President and Chief Executive Officer
