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KRYSTAL COMPANY TO WITHDRAW ITS PROPOSED EQUITY OFFERING

 CHATTANOOGA, Tenn., April 2 /PRNewswire/ -- The Krystal Company (NASDAQ: KRYS) announced today that it will withdraw its proposed equity offering of 1.8 million shares composed of 1 million shares of common stock by the company and 800,000 shares by certain selling shareholders.
 According to Carl Long, The Krystal Company's chairman and chief executive officer, the company's decision to withdraw the offering is due to weak market conditions that continue to affect the restaurant industry generally. Long also said that the withdrawal of the offering will not affect the company's current restaurant expansion plans, which are adequately supported by the company's existing capital structure.
 The Krystal Company operates and franchises full-size Krystal and small "double drive-thru" Krystal Kwik quick-service hamburger restaurants. The Krystal Company currently operates 217 Krystal restaurants and 14 Krystal Kwik restaurants, while franchisees currently operate eight Krystal restaurants and 23 Krystal Kwik restaurants.
 -0- 4/2/93
 /CONTACT: Camden B. Scearce, vice president, chief financial officer, secretary, treasurer and controller of The Krystal Company, 615-757-1510/
 (KRYS)


CO: The Krystal Company ST: Tennessee IN: LEI SU: OFR

BR-BN -- AT002 -- 2390 04/02/93 09:09 EST
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Publication:PR Newswire
Date:Apr 2, 1993
Words:189
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