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 13, 1997
RED HOT CONCEPTS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 33-86166 52-1887105
(State of Organization) (Commission File No.) (IRS Employer
Identification Number)
6701 Democracy Boulevard, Suite 300
Bethesda, MD 20817
(Address of principal executive offices)
(301) 493-4553
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
RED HOT CONCEPTS DECENTRALIZES MANAGEMENT AND NAMES
NEW PRESIDENT
On May 13, 1997, Red Hot Concepts, Inc. announced that Chairman of the
Board, Colin Halpern, has resumed the role of president, replacing Norman J.
Abdallah, who has left the Company to pursue other interests. Mr. Halpern has
served as president of the Company from its inception until he hired Mr.
Abdallah in August 1996.
Item 7. Financial Statements and Exhibits
(C) Exhibits
The following exhibit is filed as part of this Current Report on Form 8-K:
EX-99.1 Press Release From Red Hot Concepts, Inc. (May 13, 1997)
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Red Hot Concepts, Inc.
By:/s/ Colin Halpern
Colin Halpern
President
Date: May 14, 1997__
<PAGE>
EXHIBITS
Exhibit Number and Description
EX-99.1 Press Release From Red Hot Concepts, Inc. (May 13, 1997)
RHC
Red Hot Concepts, Inc.
FOR IMMEDIATE RELEASE NEWS RELEASE
Contact: Amy Lipsius Red Hot Concepts, Inc.
(301) 493-4553 6701 Democracy Boulevard
Bethesda, MD 20817
RED HOT CONCEPTS DECENTRALIZES MANAGEMENT
AND NAMES NEW PRESIDENT
BETHESDA, MD, May 13, 1997 - Red Hot Concepts, Inc. (NASDAQ Symbol: RUCSU)
today announced that Chairman of the Board Colin Halpern has resumed the role of
president, replacing Norman J. Abdallah, who has left the Company to pursue
other interests. Mr. Halpern had served as president of the Company from its
inception until he hired Mr. Abdallah in August 1996.
According to Mr. Halpern, the Company has been pursuing cost-cutting
opportunities, including those that strengthen the autonomy of its British and
Australian Chili's operations and reduce the indirect management coming from its
U.S. headquarters. Mr. Abdallah's departure enables the Company to shift
management responsibilities closer to these units.
"Norman has been an outstanding motivator for all our employees and we all
which him well," Mr. Halpern said. "However, we believe we can significantly
reduce costs by giving more control to the outstanding management we have in
place in Britain and Australia, and reducing our overhead in the United States.
Mr. Abdallah joined the Company last year, after nine years with Brinker
International. During the second half of 1996, the Company achieved unit-level
profitability and an average weekly sales gain of 40% at its British Chili's
operations. It reduced overall
<PAGE>
losses by more than $800,000 from the final quarter of 1996 to the first quarter
of 1997. Much of these improvements are attributable to the experienced
management teams in Britain and Australia that Mr. Abdallah put in place, Mr.
Halpen said.
Red Hot Concepts is the master licensee of Chili's Grill & Bar restaurants
in the United Kingdom, Australia and New Zealand. Currently the Company operates
five Chili's in its territories and plans to open several additional restaurants
this year.
