ON THE BORDER CAFES ANNOUNCES AGREEMENT WITH C.F.T. CAFES, INC.
DALLAS, June 14 /PRNewswire/ -- On The Border Cafes, Inc. (NASDAQ-NMS: OTBC) announced today that franchise and development agreements have been signed with C.F.T. Cafes, Inc., a Florida corporation which is principally owned by Paul S. Heyd, a director and former officer of the company. Under the terms of the agreements, C.F.T. Cafes, Inc. as franchisee will open and operate an On The Border restaurant in the Orlando, Fla. area and may open and operate up to four additional On The Border restaurants in the central Florida area by Nov. 30, 1996. Stephen D. Fenstermacher, chief executive officer of the company, said, "We are very pleased to extend our franchise operations in the Florida market. Paul Heyd, as one of the founders of the On The Border concept, is well qualified to open this new market. We look forward to the continued growth of our franchised restaurants in this and other markets in the future." On The Border Cafes, Inc. currently operates 15 restaurants system- wide with 10 operated by the company and five operated by franchisees. The company is traded in the NASDAQ Stock Market under the symbol "OTBC." -0- 6/14/93 /CONTACT: Stephen D. Fenstermacher, chief executive officer of On The Border Cafes, Inc., 214-905-7500/ (OTBC)
CO: The Border Cafes, Inc.; C.F.T. Cafes, Inc. ST: Texas, Florida IN: LEI SU:
SM -- NY014 -- 1426 06/14/93 08:25 EST
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|Date:||Jun 14, 1993|
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