Frisch's Restaurants Inc. announces sale of its Hardee's division

Business Wire, Dec 12, 1995

CINCINNATI--(BUSINESS WIRE)--Dec. 12, 1995--Frisch's Restaurants Inc. (American Stock Exchange Inc.) announced today that it has sold its four remaining Hardee's restaurants.

Craig F. Maier, president and chief executive officer, noting that two Hardee's were disposed of earlier in the current fiscal year, reported that Hardee's was a small piece of a larger company. The Hardee's division has been underperforming since the units were converted from the Roy Rogers concept in 1990. The elimination of Hardee's losses is expected to help improve earnings as the year progresses. The company will report the gain from the disposition in the third quarter of fiscal year 1996. The company now operates 104 Big Boy restaurants and two Quality Hotels.

CONTACT: Frisch's Restaurants Inc., Cincinnati

Louis J. Ullman, 513/559-5208