Fiesta Restaurant Group taking $8M-$11M charges for closings [Seeking Alpha]
Fiesta Restaurant Group, Inc. (FRGI)
Last fiesta restaurant group, inc. earnings: 2/26 04:05 pm
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Source: Seeking Alpha
Fiesta Restaurant Group taking $8M-$11M charges for closingsIn anSEC filing updating its plans toclose six south Texas restaurants, Fiesta Restaurant Group (FRGI+7.1%) says it's taking impairment charges related to the closings.The company expects to record noncash impairments of $7M-$9M, and related lease and other charges of $1M-$2M, in the third quarter that will call for future cash expenditures.Fiesta is closing the six remaining company-owned Pollo Tropical restaurants (two in Houston and four in San Antonio) in south Texas due to "uncertainty in south Texas including the effects of Hurricane Harvey and limited awareness of the Pollo Tropical brand."Now read:Daily Insider Ratings Round Up 9/6/17: COTY, IFF, FRGI, FSP, X, HAL »
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