UNITED STATES 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: May 8, 1997
Date of Earliest Event Reported: April 23, 1997
Houlihan's Restaurant Group, Inc.
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(Exact name of registrant as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation or organization)
33-66392 43-0913506
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(Commission File Number) (I.R.S. Employer Identification No.)
Two Brush Creek Boulevard, Kansas City, Missouri 64112
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(Address of principal executive office, including zip code)
(816) 756-2200
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On April 23, 1997, the Company signed a commitment letter with CNL
Group, Inc. to complete a sale leaseback transaction. The letter provides for
the sale leaseback of up to 25 Company-owned properties for proceeds of
approximately $30,000,000 subject to appraised values. The transaction is to be
completed as soon as practicable. The Company has not determined the number of
properties to include in the sale leaseback transaction, and therefore, cannot
make a determination of the gain or loss that will result upon the completion of
the transaction.
The Company intends to use the proceeds from this transaction to either (i)
repurchase shares of the Company's common stock not owned by Malcolm Glazer and
his affiliates, owners of approximately 73% of the Company's outstanding common
stock, (ii) prepay existing bank debt or (iii) construct or acquire additional
new restaurants.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of businesses acquired.
Not applicable.
(b) Pro forma financial information.
Not applicable.
(c) Exhibits.
None.
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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.
HOULIHAN'S RESTAURANT GROUP, INC.
Date: May 8, 1997 By: /s/ Frederick R. Hipp
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Frederick R. Hipp
President/Chief Executive Officer
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