SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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): April 17, 1998
MERITAGE HOSPITALITY GROUP INC.
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(Exact Name of Registrant as Specified in Charter)
Michigan
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(State or Other Jurisdiction of Incorporation)
0-17442 38-2730460
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(Commission File Number) (IRS Employer
Identification Number)
40 Pearl Street, N.W., Suite 900
Grand Rapids, Michigan 49503
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (616) 776-2600
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Item 5. Other Events.
The Registrant's wholly-owned subsidiary has entered into a contract for
the sale real and personal property comprising, among other things, one of the
Registrant's two remaining hotel properties. A non-refundable deposit of
$250,000 has been paid by the prospective purchaser. If the sale is closed, the
Registrant will receive approximately $12.2 million, which will result in a
pre-tax gain of approximately $2 million and reduce the Registrant's long-term
debt by approximately $9.5 million. The closing is scheduled to occur no later
than September 1, 1998, but there are no assurances that the sale will close.
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: April 20, 1998 By: /s/Christopher B. Hewett
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Christopher B. Hewett
President and
Chief Executive Officer
