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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): November 13, 2000
SANTA BARBARA RESTAURANT GROUP, INC.
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(Exact Name of Registrant as Specified in Charter)
DELAWARE 10-10576 33-0403086
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(State of Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
3938 STATE STREET, SANTA BARBARA, CALIFORNIA 93105
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(Address of Principal Executive Offices)
Registrant's telephone number including area code: 805/563-3644
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ITEM 2 ACQUISITIONS OR DISPOSITION OF ASSETS
On November 13, 2000 the Company completed the sale of JB's Family
Restaurants, Inc. ("JB's"), a Delaware Corporation and wholly-owned
subsidiary of the Company, to LBW Investments, L.L.C. ("LBW"), a company
controlled by Lynn Whiteford, the former Chief Executive Officer of JB's,
pursuant to a Stock Purchase Agreement between the Company, JB's, and LBW. In
accordance with said Agreement the Company received cash proceeds of $8
million and a Promissory Note which totals $1.3 million after giving effect
to certain deductions. In addition, the buyer assumed JB's trade payables of
$3.5 million, debt obligations of approximately $5.0 million, and other
long-term liabilities of $2.0 million.
ITEM 7 FINANCIAL STATEMENTS, PRO FORMAS FINANCIAL INFORMATION, AND EXHIBITS
(c) Exhibit
No.
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10.19 Stock Purchase Agreement dated as of September 19,
2000, as amended, by and between Santa Barbara
Restaurant Group, Inc., JB's Family Restaurants, Inc.,
and LBW Investments, Inc.
99.1 Press Release of Santa Barbara Restaurant Group, Inc.
issued November 14, 2000.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has dulPy caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Santa Barbara Restaurant Group, Inc.
(Registrant)
Date: November 28, 2000 By: /s/ ANDREW D. SIMONS
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Andrew D. Simons
General Counsel
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EXHIBIT INDEX
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Exhibit
No.
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10.19 Stock Purchase Agreement dated as of September 19, 2000, as amended,
by and between Santa Barbara Restaurant Group, Inc., JB's Family
Restaurants, Inc., and LBW Investments, Inc.
99.1 Press Release of Santa Barbara Restaurant Group, Inc., issued November
14, 2000.
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