Food Roundup: Cheesecake Factory's New Credit Terms, Tyson Pleads Guilty in Worker Death, and More

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BNET Food provides daily industry trends and news coverage with insights for managers and executives, focusing on the major companies in the food and beverage sector, from manufacturers to retailers. In addition to detailed company profiles, we bring you industry analysis on new alliances and partnerships, food products, mergers and acquisitions, contamination events, health risks, investments, and a host of other important business issues.

Cheesecake Factory Renegotiates Credit — The restaurant chain entered into new terms on its $300 million in revolving credit. The company’s net fell in the third quarter by about $7 million to 11.8 million. [Source: Reuters]

Tyson Pleads Guilty in Worker Death — The world’s largest meat producer agreed to pay a $500,000 fine for violations that resulted in the death of a worker in Texarkana. Jason Kelley was killed in an accident at the plant in 2003. [Source: AP]

CKE, Chipotle, Yum Will Still Expand — Chain restaurants are hurting bad, thanks in part to a market glut. But some of the bigger chains – and particularly those that run fast-food outlets, which are generally doing well — still have expansion plans. [Source: TheStreet.com]

Busch-InBev to Close Historic Brewery — The beer giant will shutter the 600-year-old Stag brewery in London. The facility employs 182 people. [Source: AP]

Tags: Food, Associated Press, Brewery, Worker, Dan Mitchell

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Cheesecake Factory amends credit facility

Nation's Restaurant News - 315 days 19 hours 5 minutes ago

CALABASAS HILLS, Calif. (Jan. 7, 2008) The Cheesecake Factory Inc. amended the terms of its $300 million credit facility to gain more financial flexibility, it said this week. The changes included higher interest rates, but looser covenants. The company’s five-year facility still remains due in 2012, and as of Dec. 30, Cheesecake Factory said...
El Al to pay $15.7 million cargo collusion fine

ATW Daily News - 304 days 14 hours 14 minutes ago

El Al agreed to plead guilty to colluding on cargo shipping charges and will pay a $15.7 million criminal fine, the US Dept. of Justice announced. The Israeli carrier joined LAN Cargo and subsidiary ABSA Cargo Airline, which also pleaded guilty last week and will pay a combined fine of $109 million (ATWOnline, Jan. 23). The three carriers...
Brinker inks $215 million credit facility

Nation's Restaurant News - 263 days 22 hours 44 minutes ago

Brinker International Inc., parent to the Chili's Grill & Bar and other casual-dining chains, said Monday it has entered into a new $215 million revolving credit facility.
Cheesecake Factory celebrates 30th anniversary

Nation's Restaurant News - 294 days 17 hours 35 minutes ago

CALABASAS HILLS, Calif. (Jan. 28, 2009) In a multi-pronged promotion designed to celebrate both The Cheesecake Factory's 30th anniversary and Valentine's Day during the next several weeks, the casual-dining chain is inviting guests to choose the next cheesecake flavor, send an "e-slice" of cheesecake to a friend, and earn a free slice for every...
Tyson Foods upgraded to neutral from underweight

MarketWatch - 258 days 4 hours 35 minutes ago

NEW YORK (MarketWatch) -- J.P. Morgan on Wednesday upgraded shares of Tyson Inc. (TSN:TSNNews , chart , profile , moreLast:Delayed quote dataAdd to portfolioAnalystCreate alertInsiderDiscussFinancialsSponsored by:, , ) to neutral from underweight after the meat producer launched a new credit facility. Although the new loan program will cost...

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