Shoney's Reviewing Strategic Opportunities

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Jul 5, 2001

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

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

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

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