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Shoney's Reviewing Strategic Opportunities


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Nashville, Tennessee-Shoney's Inc., which owns, operates and franchises 998 restaurants, including those in the Captain D's Seafood chain, has hired Bank of America to help review "strategic opportunities," a term often used to suggest a company is considering putting itself up for sale.

On June 12, Shoney's completed the sale of its wholly owned subsidiary, Commissary Operations Inc. Three days later, the company named a new CFO.

The company posted a loss of $9.1 million in the first quarter of 2001 on revenues of $226.5 million. -Reuters