BFX Hospitality Group, Inc. Announces Agreement to Sell Cabo.Business Editors FORT WORTH, Texas--(BUSINESS WIRE)--Aug. 4, 2000 Robert H. McLean, Chief Executive Officer of BFX BFX Bitware Fax Hospitality Group, Inc. (AMEX AMEX See: American Stock Exchange :BFX), announced today that, after many months of negotiations, the Company has reached agreement to sell its Cabo concept, including the two Cabo restaurants located in Houston, to an investor group headed by Enron Corporation Enron Corporation, U.S. company that in 2001 became the largest bankruptcy and stock collapse in U.S. history up to that time. The company was formed in 1985 when InterNorth purchased Houston Natural Gas to create the country's longest natural-gas pipeline network. of Houston for $3,500,000 in cash. It is anticipated that the sale will be closed the third week of August. Mr. McLean concluded, "The Cabo unit located in Downtown Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. will not be sold. We are in the process of making design and menu changes in the Downtown Fort Worth unit which will position this unit to be more responsive to the Fort Worth market. The name of the Fort Worth unit will be changed to Cabo Grande." |
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