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O'Charley's Inc. Message Board

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  • stillwater9999 stillwater9999 Nov 18, 2008 11:28 AM Flag

    death spiral!!!! BK is coming.....

    All of the above apply to RT. Check out the extent of debt payments due in 2009. Also read the cc minutes. It was clear that 4Q 2008 was critical for RT - otherwise they are in grave danger of violating their debt convenants. RT has over 500 MM in debt, behind on pension, cutting prices. They are quicly (desparately) trying to sell some real estate. Hard to do now. Not a bad rest. but nothing special, there are too many casual rest chains out there unfortunately especially in this environment.