SPAGHETTI WAREHOUSE SIGNS AGREEMENT TO PURCHASE THE SPAGHETTI WORKS RESTAURANTS IN SOUTH BEND, IND.
SPAGHETTI WAREHOUSE SIGNS AGREEMENT TO PURCHASE THE SPAGHETTI WORKS RESTAURANTS IN SOUTH BEND, IND. GARLAND, Texas, Jan. 16 /PRNewswire/ -- Spaghetti Warehouse, Inc. today announced that it has signed an agreement to purchase The Spaghetti Works restaurant in downtown South Bend, Ind. The transaction is expected to be completed in February. According to Louis P. Neeb, president and chief executive officer of the Garland based restaurant chain, the 220-seat restaurant will be converted to The Spaghetti Warehouse concept within two months from the closing of the transaction. Marv Moore, president and founder of The Spaghetti Works, Inc. started the South Bend Italian dinner house in 1986. In addition to the dining area, there is a 120-seat lounge and large patio. The restaurant, located at 501 North Niles Ave., adjoins The Works Hotel. Moore also operates a Spaghetti Works restaurant in Mishawaka, but this store is not affected by the purchase. "Our concepts are similar and we anticipate a smooth transition for both employees and customers to The Spaghetti Warehouse concept," Moore said. Neeb said that the company intends to learn from Moore's restaurant how to more successfully operate in a smaller market. The Spaghetti Warehouse restaurants are located predominately in center city areas of large metropolitan areas. Part of the company's future growth plan addresses developing smaller stores in cities under 500,000 people, Neeb added. Spaghetti Warehouse, Inc. (NYSE: SWH), presently operates 20 restaurants in Texas, Ohio, Florida, Tennessee, Georgia, New York, Pennsylvania, Oklahoma, Arkansas, North Carolina and Rhode Island. The restaurants, which operate under the name "The Spaghetti Warehouse," feature moderately-priced Italian food served in a family oriented, nostalgic atmosphere. -0- 1/16/92 /CONTACT: Lou Neeb, president, or William B. Rea Jr., CFO, of Spaghetti Warehouse, 214-226-6000/ (SWH) CO: Spaghetti Warehouse, Inc.; The Spaghetti Works ST: Texas, Indiana IN: LEI SU: TNM
JT -- NY061 -- 0557 01/16/92 13:29 EST
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|Date:||Jan 16, 1992|
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