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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: October 16, 1997
(Date of earliest event reported)
[LOGO OF KOO KOO ROO(R) CALIFORNIA KITCHEN]
KOO KOO ROO, INC.
(Exact name of Registrant as specified in its charter)
Delaware 0-19548 22-3132583
(State or other jurisdiction of (Commission (IRS Employer
incorporation or organization) File Number) Identification #)
11075 SANTA MONICA BOULEVARD
SUITE 225
LOS ANGELES, CA 90025
(Address of principal executive office, including zip code)
(310) 479-2080
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On October 16, 1997 Koo Koo Roo, Inc. (the "Registrant") disseminated
a press release relating to a charge to earnings in the third quarter ending
September 30, 1997 which press release is filed herewith as Exhibit 5-1 and
incorporated herein by this reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
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Exhibit
No. Description
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<C> <S>
5.1 Press Release dated October 16, 1997
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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 hereunto duly authorized.
KOO KOO ROO, INC.
By: /s/ Robert F. Kautz
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Robert F. Kautz
President and
Chief Financial Officer
Dated: October 20, 1997
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EXHIBIT 5.1
For Release 6:30 a.m. EST
October 16, 1997
Contact: Rob Kautz, President & CFO
(310) 479-2080
KOO KOO ROO ANNOUNCES MARKET CONCENTRATION STRATEGY
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TAKES ONE-TIME PRE-TAX CHARGE OF $4.8 MILLION
LOS ANGELES, CA, OCTOBER 16, 1997...KOO KOO ROO, INC. (NASDAQ NMS:KKRO), a
Los Angeles based restaurant chain, announced today that consistent with its
market concentration strategy it will take a one-time pre-tax charge in its
third quarter of approximately $4.8 million consisting primarily of asset write-
offs and charges associated with the closing of 3 stand-alone stores and the
streamlining of the corporate structure which eliminated 22 corporate jobs as
well as consolidated Hamburger Hamlet's corporate office into the home office.
Rob Kautz, President and CFO of Koo Koo Roo, Inc. stated, "Going forward,
our growth will be concentrated in California, Las Vegas, Nevada, the Washington
D.C. Beltway area, and Florida, where we have multiple stores or multiple stores
planned. By concentrating our financial and human resources on those markets
where we have multiple stores, we believe we can improve our financial results
and meet our target of containing overhead to 10% of revenues in the fourth
quarter. In a multiple store market fixed costs are spread over a broader
revenue base leading more quickly to profitability."
During the third quarter the company entered into nine new leases, and
expects to open an additional eight stores before the end of the year. Koo Koo
Roo presently operates 44 restaurants including 14 recently acquired Hamburger
Hamlet locations. Its Canadian partnership also operates two Koo Koo Roo
California Kitchens in Toronto.
Forward-looking statements and comments in this press release are made
pursuant to the safe-harbor provisions of Section 21E of the Securities Exchange
Act of 1934. Such statements relating to, among other things, the prospects for
the Company to open new stores, continue to achieve growth in sales, the ability
to reduce overhead and the ability to achieve positive operating results are
necessarily subject to risks and uncertainties, some of which are significant in
scope and a nature, including risks related to real estate, construction,
competition, availability of capital and continuation of sales levels. The
risks are further discussed in the periodic reports and registration statements
filed by the Company from time to time with the Securities and Exchange
Commission.
