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|View FRGI Detailed Price Forecast - CNN Money||View FRGI Detailed Summary - Google Finance|
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Fiesta Restaurant Group, Inc. Announces Resignation of Chief Financial Officer
Posted on Wednesday January 02, 2019
Fiesta Restaurant Group, Inc. (“Fiesta” or the “Company”) (FRGI), parent company of the Pollo Tropical® and Taco Cabana® fast-casual restaurant brands, today announced that Lynn Schweinfurth, Chief Financial Officer, Senior Vice President, and Treasurer, has resigned effective January 25, 2019 to pursue another career opportunity. Cheri Kinder, Vice President, Corporate Controller and Chief Accounting Officer, will assume the position of Interim Chief Financial Officer and Treasurer upon the effective date of Ms. Schweinfurth’s departure. The Company has commenced a formal search for a new permanent Chief Financial Officer.
Fiesta Restaurant Group to shutter all Pollo Tropical locations in Atlanta
Posted on Thursday December 20, 2018
Fiesta Restaurant Group Inc. said Thursday that it will close 14 Pollo Tropical and Taco Cabana restaurants across Georgia and Florida, including all nine Pollo Tropical locations in Atlanta. The move is part of the action taken to complete an ongoing strategic renewal plan. The 14 restaurants contributed about $15.1 million in sales and $4.6 million in restaurant-level pre-tax operating losses for the 11 months ending Dec. 2, 2018. Fiesta expects $12 million to $13 million in non-cash impairment charges from the closures and $3.0 million to $3.5 million in charges in Q4 2018. Fiesta's goal is to "enter 2019 with a keen focus on building traffic, improving margins and rebranding Pollo Tropical for future expansion outside of South Florida," according to a statement from Chief Executive Richard Stockinger. The company will have new loyalty programs at Pollo Tropical and Taco Cabana by the end of the year, has added catering at Pollo Tropical and will do so at Taco Cabana, and is piloting delivery at Pollo Tropical. Fiesta shares have tumbled 17.6% in 2018, outpacing the S&P 500 index decline of 6.2% in the period.
Fiesta Restaurant Group, Inc. Announces Completion of Strategic Renewal Plan with Comprehensive Restaurant Portfolio Review
Posted on Thursday December 20, 2018
Fiesta Restaurant Group, Inc. (“Fiesta” or the “Company”) (FRGI), parent company of the Pollo Tropical® and Taco Cabana® fast-casual restaurant brands, today announced it will close 14 Pollo Tropical restaurants in Florida and Georgia, including all nine Pollo Tropical restaurants in the greater Atlanta metropolitan area, and nine Taco Cabana restaurants in Texas. Nearly all employees impacted by the Florida and Texas closures will be offered positions at nearby Pollo Tropical or Taco Cabana restaurant locations. The 14 closed Pollo Tropical restaurants contributed approximately $15.1 million in restaurant sales and $4.6 million in restaurant level pre-tax operating losses, including $2.0 million in depreciation expense, for the eleven months ended December 2, 2018.
Fiesta Restaurant Group, Inc. Appoints Louis DiPietro as Senior Vice President, General Counsel and Corporate Secretary
Posted on Monday December 17, 2018
Fiesta Restaurant Group, Inc. , parent company of the Pollo Tropical® and Taco Cabana® fast casual restaurant brands, announced the appointment of Louis DiPietro as the Company’s Senior Vice President, General Counsel and Corporate Secretary, effective December 17, 2018, replacing Maria Mayer, who has left the Company.