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CONSUL RESTAURANT CORPORATION REORGANIZATION PLAN DENIED BY U.S. BANKRUPTCY COURT

 CONSUL RESTAURANT CORPORATION REORGANIZATION PLAN
 DENIED BY U.S. BANKRUPTCY COURT
 MINNEAPOLIS, Oct. 12 /PRNewswire/ -- Consul Restaurant Corporation (NASDAQ: CNSQC), the largest franchisee of Chi-Chi's Mexican restaurants, today announced that the U.S. Bankruptcy Court denied confirmation of its plan of reorganization filed jointly with its statutory committee of unsecured creditors. A competing plan filed in the case by Consul's franchisor, Chi-Chi's Incorporated, was confirmed.
 Under the terms of Chi-Chi's plan, current equity interest holders will receive nothing, and accordingly, trading in Consul Restaurant Corporation common stock was halted today.
 -0- 10/12/92
 /CONTACT: Robert A. Lamp of Consul, 612-851-3388; or Melissa Quinn of Padilla Speer Beardsley, 612-871-8877, for Consul/
 (CNSQC) CO: Consul Restaurant Corporation ST: Minnesota IN: ENT SU:


KH -- MN015 -- 8944 10/12/92 16:05 EDT
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Publication:PR Newswire
Date:Oct 12, 1992
Words:130
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