Restaurant Operator Prandium Posts $6.8-Million Quarter Loss
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Irvine restaurant operator Prandium Inc. reported Friday that it had a net loss of $6.8 million, or 4 cents a share, for the second quarter, compared with a year-earlier net loss of $4.5 million, or 2 cents a share.
Sales for the three divisions operating Koo Koo Roo, Chi-Chi’s and El Torito at the end of June were down 2% to $137.9 million. There were 11 fewer Chi-Chi’s restaurants in the second quarter than in the same period last year, the company said.
Just before the quarter ended, Prandium sold its flagship El Torito division to the rival Acapulco restaurant chain in Long Beach for $129.5 million to pay off debts.
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