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Prospector
Profile
07.1229
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| Perkins & Marie Callender's, Inc. |
NAICS |
722110 |
| 6075 Poplar Avenue, Suite 800
Memphis, TN 38119 |
Description |
Restaurants |
| (901) 766-6400 |
Employees |
15100 |
| http://www.perkinsrestaurants.com/ |
Revenue |
(mil) |
594.1900 |
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Income |
(mil) |
-9.3700 |
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Assets |
(mil) |
346.8500 |
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Liability |
(mil) |
402.5200 |
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(for the year ended 2006-12-31) |
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Category:
Low Rating
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Event:
Moody's Investors Service confirmed its 'Caa1' rating on Perkins & Marie Callender's, Inc.'s $190 million senior unsecured notes due 2013. The rating outlook is stable. Moody's said that the confirmation follows its May 4, 2007, rating action wherein it downgraded the company's corporate family rating and placed the rating on review for further downgrade. The review and downgrade were prompted by the company's technical default on the bank credit facilities following the inability to file its 10-K for the year ended Dec. 31, 2006 on time, as well as by the its continuously weak credit metrics.
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Intellectual Property:
The Company believes that its trademarks and service marks, especially the marks “Perkins” and “Marie Callender’s,” are of substantial economic importance to its business. Common law rights are claimed with respect to other menu offerings and certain promotions and slogans. The Company has also copyrighted architectural drawings for Perkins restaurants and claim copyright protection for certain manuals, menus, advertising and promotional materials. [SEC Filing 10-K 06-27-07]
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Description:
Perkins & Marie Callender's, Inc., formerly The Restaurant Co., operates and franchises more than 600 full-service restaurants under the Perkins and Marie Callender's banners. Its Perkins chain, with about 480 locations, offers standard American fare for breakfast, lunch, and dinner, along with fresh muffins, pies, cookies, and cakes.
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Officers:
Joseph F. Trungale (Pres., CEO & Dir.); James W. Stryker (EVP & CFO); James F. Barrasso (EVP-Food Service Dept.); Charles A. Conine (EVP-HR); Pete M. Pascuzzi (SVP-Corporate Restaurant Operations)
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Auditor:
Deloitte & Touche LLP
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Securities:
10,820 common shares outstanding as of April 22, 2007.
10% senior notes due October 1, 2013.
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