Food Industry
Industry: Email Alert RSS FeedKyotaru liquidates Kyotaru America, Taco El Paso Inc
Nation's Restaurant News, Jan 11, 1993
TOKYO--Kyotaru Co., the giant Japanese restaurant company with extensive holdings in this country, will liquidate two of its unprofitable U.S. subsidiaries.
The liquidation of Kyotaru America Corp. and Taco El Paso Inc. will result in an extraordinary loss of 778 million yen or about $6.2 million for Kyotaru's fiscal year ended Dec. 31, according to the company.
Kyotaru America was a seafood restaurant operator based in California, while Taco El Paso was a Mexican restaurant chain based in Hawaii.
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Kyotaru's holdings in the United States include New York-based Restaurant Associates, which also operates the Acapulco dinner-house chain on the West Coast; the San Diego-based Paragon Steakhouse restaurants, which includes the Hungry Hunter and Mountain Jack's chains; and KFF Management, a California-based Arby's franchise.
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