August 16, 2011
Industries Headline

Domino's Pizza postpones refinancing of existing securitized debt

Ann Arbor, Michigan-based Domino's Pizza has announced that it will postpone early refinancing of its existing securitized debt due to volatility in the financial markets. Domino's existing securitized debt requires interest-only payments until April 2012 and could be extended until April 2014.

As of June 19, 2011, Domino's currently has outstanding securitized debt of 1.45 billion. In April 2007, Domino's entered into a $1.85 billion securitized financing facility consisting of $1.7 billion of fixed rate notes and $150 million of variable funded notes.

Dominos operates more than 9,400 franchised- and company-owned stores in the U.S and 70 international markets.


Cici's Pizza adds Philly Cheesesteak Pizza to its American Classics line

Coppell, Texas-based Cici's Pizza has announced a new addition to its American Classics line, the Philly Cheesesteak Pizza. CiCi's recently introduced a cheeseburger pizza as the first menu item in the classics line, as well as the Mac and Cheese, Buffalo Chicken and Kansas City BBQ pizzas.

The Philly Cheesesteak Pizza features Philly Cheese Sauce, grilled sliced beef and is topped with red onions and bell peppers.

"We are happy to bring a fan favorite, the Philly Cheesesteak Pizza, back to the buffet as the latest addition to the American Classics line," says Chief Marketing Officer Nancy Hampton. "The American Classics line allows us to feature the variety of unique American flavors, and we encourage everyone to give them all a try."

Originating in Plano, Texas, in 1985, CiCi's Pizza has grown to more than 600 restaurants in 35 states.


Sbarro plans to reduce debt by $295 million

Melville, New York-based Sbarro, Inc. has announced that it has filed a Joint Plan of Reorganization and Disclosure Statement with the U.S. Bankruptcy Court for the Southern District of New York. Sbarro plans to reduce its debt by $295 million (73 percent).

"The plan gives us a clear path to emerge from the bankruptcy process with significantly reduced debt and increased financial flexibility and liquidity," says Interim President and CEO Nicholas McGrane. "Sbarro continues to perform well, experiencing positive same-store sales and outpacing mall traffic in the first half of 2011. As we seek to implement our balance sheet restructuring, Sbarro's restaurants will continue to operate in the normal course and without interruption and will be positioned to compete more effectively going forward."

Sbarro operates more than 1,000 locations in more than 40 countries.


Boston's Restaurant & Sports Bar debut new menu, Sports Headquarters initiative

Dallas, Texas-based Boston's Restaurant & Sports Bar has debuted the launch of its new menu and Sports Headquarters promotion.

The new menu features a Thai Chili appetizer and a chicken and broccoli and a spicy Cajun chicken breast with broccoli and Florentine rice Healthy Hits entrees. Boston's also added a Flat Iron Steak Flatbread to its flatbread and pasta options with an offer to choose their own pasta, sauce and soup or salad for $6.99 from Monday-Friday, 11 a.m-3 p.m.

Launched in conjunction with the new menu, the Sports Headquarters promotion showcases Boston's as home to all things sports. When guests sign up to be a member of Boston's Mobile Club, each will receive a free individual pizza. Boston's also will feature select margaritas and Samuel Adams beverages for the fall sports season.