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SPAGHETTI WAREHOUSE, INC. SIGNS DEVELOPMENT AGREEMENT WITH THE GOOD SPAGHETTI COMPANY

SPAGHETTI WAREHOUSE, INC. SIGNS DEVELOPMENT AGREEMENT WITH THE GOOD
 SPAGHETTI COMPANY
 GARLAND, Texas, Oct. 1, /CNW/ - Spaghetti Warehouse, Inc. (NYSE, "SWH") today announced a Franchise Development Agreement with The Good Spaghetti Company, a La Jolla, California corporation to initially build five stores over three years with an option to expand to 20 restaurants over 12 years in California, Arizona and Nevada.
 The agreement, subject to the completion of equity funding, was signed with Michael J. Stack, president and CEO, and John D. Gantes, executive vice president and secretary, of The Good Spaghetti Company. Stack has over 30 years of experience in the hospitality industry, including being a major franchisee/developer of Chi Chi's restaurants. Gantes, founder of the Breckenridge Group, Inc., a management and real estate development firm based in Rancho Santa Margarita, Calif., is a successful multi-unit restaurant franchise operator of Burger King, Coco's Bakery and Ruby's Diner.
 Ken Vaughn, vice president of franchising, said the Spaghetti Warehouse has now signed four domestic multi-unit franchise development agreements. The first Spaghetti Warehouse franchise restaurant will open in Knoxville, Tenn. on Nov. 22. Another franchised store is planned to open the latter part of Fiscal 1993.
 The Garland, Texas based Spaghetti Warehouse, a 20-year old Italian restaurant chain presently operates 26 restaurants in 14 states. Spaghetti Warehouse reported revenues of $56 million for the fiscal year ending July 4, 1992. It also is the franchisor of five similar restaurants in Canada through its recently acquired Canadian subsidiary, Old Spaghetti Factory Canada, Ltd. The company recently signed a five year agreement with TGI Friday's, Inc. which would grant Friday's Master Franchisee/Sub Franchisor rights to establish Spaghetti Warehouse restaurants in Europe, the Pacific Rim and Latin America.
 For further information: William B. Rea Jr., vice president, finance, Spaghetti Warehouse Inc. (214) 226-6000
 (SWH)
 -0- 10/01/92


CO: SPAGHETTI WAREHOUSE, INC.; THE GOOD SPAGHETTI COMPANY IN: LEI ST: TX -- c0136 -- X043 10/01/92
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Publication:PR Newswire
Date:Oct 1, 1992
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