<PAGE> 1
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) May 23, 1996
-------------------------------
FAMILY RESTAURANTS, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
Delaware 33-14051 33-0197361
- --------------------------------------------------------------------------------
(State or other jurisdiction (Commission) (IRS Employer
of incorporation) File Number) Identification No.)
18831 Von Karman Avenue, Irvine, California 92715
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(714) 757-7900
- --------------------------------------------------------------------------------
Registrant's telephone number, including area code
Not Applicable
- --------------------------------------------------------------------------------
(Former name or former address, if changed since last report)
Page 1 of 5 pages
Exhibit Index on page 4
<PAGE> 2
Item 5. Other Events.
-------------
On May 23, 1996, Family Restaurants, Inc. (the "Registrant") completed
the previously announced sale of all of the outstanding shares of capital stock
of FRI-M Corporation, a wholly owned subsidiary of the Registrant, to FRD
Acquisition Co. ("FRD"), a wholly owned subsidiary of Flagstar Corporation
("Flagstar"), pursuant to the Stock Purchase Agreement, dated as of March 1,
1996, among the Registrant, Flagstar Companies, Inc., Flagstar and FRD. A copy
of the press release announcing the completion of such transaction is attached
hereto.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
-------------------------------------------------------------------
(c) Exhibits
Exhibit No. Exhibit
----------- -------
99.1 Press release, dated May 23, 1996
Page 2 of 5
<PAGE> 3
SIGNATURE
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 hereunto duly authorized.
FAMILY RESTAURANTS, INC.
Date: May 30, 1996 By: /s/ ROBERT T. TREBING, JR.
--------------------------
Robert T. Trebing, Jr.
Senior Vice President and
Chief Financial Officer
Page 3 of 5
<PAGE> 4
EXHIBIT INDEX
Exhibit No. Description Page No.
- ----------- ----------- --------
99.1 Press release, dated May 23, 1996 5
Page 4 of 5
<PAGE> 1
[LOGO] FAMILY RESTAURANTS, INC.
------------------------------------------------------------------------
NEWS RELEASE Contact: Gayle DeBrosse
Family Restaurants, Inc.
(714) 863-6491
FOR IMMEDIATE RELEASE
- ----------------------------
FAMILY RESTAURANTS COMPLETES SALE OF CARROWS AND COCO'S
Irvine, California -- May 23, 1996 -- Family Restaurants, Inc. (FRI)
announced today that it has completed its sale of the Carrows and Coco's
chains to a subsidiary of Flagstar Companies, Inc. (NASDAQ: FLST) for a
total consideration of $306.5 million.
The sale of nearly 350 restaurants included 157 Carrows and 187
Coco's/jojos restaurants, and the licensing rights for approximately 260
Coco's restaurants that operate in Korea and Japan.
FRI now operates 316 restaurants primarily in California, Ohio,
Pennsylvania, Illinois, Indiana, Michigan, Wisconsin, Maryland, Virginia,
and Missouri under the Chi-Chi's, El Torito, Casa Gallardo, and Charley
Brown's concepts.
# # #
Page 5 of 5
