LaBorde Is Out At Piccadilly
Ronald LaBorde has resigned as chief executive of Piccadilly Cafeterias, and will be replaced for the time being with an outside management consulting firm, the company said.
Piccadilly has hired PMCM, an affiliate of Phoenix Management Services, to help it deal with
a sales downturn that recently forced the company to close 17 cafeterias.
Vincent Colistra is the restructuring adviser and the top executive in the new set-up. Jack McGregor will serve as interim CEO.
LaBorde's lieutenants, COO Azam Malik and CFO Mark Mestayer, will remain in their posts.
"A core mission that the board has assigned to PMCM is to evaluate the company's existing business, financial projections, liquidity position and prospects, and present the board in the near future with proposals for improving operations and shareholder value," said Piccadilly chairman J.H. Campbell Jr.
Piccadilly operates 175 cafeterias in the Southeastern and Mid-Atlantic states.
Piccadilly has hired PMCM, an affiliate of Phoenix Management Services, to help it deal with
Vincent Colistra is the restructuring adviser and the top executive in the new set-up. Jack McGregor will serve as interim CEO.
LaBorde's lieutenants, COO Azam Malik and CFO Mark Mestayer, will remain in their posts.
"A core mission that the board has assigned to PMCM is to evaluate the company's existing business, financial projections, liquidity position and prospects, and present the board in the near future with proposals for improving operations and shareholder value," said Piccadilly chairman J.H. Campbell Jr.
Piccadilly operates 175 cafeterias in the Southeastern and Mid-Atlantic states.
In addition, make sure to read these articles:
- What Is a Free Agent?
- Finding the Right Computer Consultant
- How to Choose an IT Consultant
- Meeting them half-way
- 7-Eleven Says No to "Cocaine" Drink
- Captain Franchise Lands in Hall of Fame.
- Slicing up convenience: local distributor finds its fortune in prepared sandwiches and...
- SLOW BOAT
- Japan's FamilyMart Plans Move into U.S.
- Outsourcing for flexibility.
- Oh, thank heaven
- New venture hopes to profit by bailing out bankrupt firms.
- id Software's QUAKE hits retail outlets worldwide; QUAKE and a Slurpee - Gamers can pick...
- Personal Profile
- Night retailers take stock of workers' safety.
I read about a company that matches high-level consultants to the right startups. These consultants were called "free agents." What are free agents and how ......
Hiring a computer consultant can be a daunting task. Finding the right person to build and manage your company's technology systems means trusting a stranger ......
Hiring an IT consultant can be a daunting task. Here is how to ensure you end up with a trusted consultant who fits your project ......
Is home delivery the only way to reap the technological fruits of mass-customization? Not according to Anthony Tedesco, the Eatzi's architect now working as a ......
The retailer recommends franchisees remove cans from shelves.
Although he disavows his contributions to the franchise landscape, Lloyd Tarbutton is credited with founding the economy hotel industry. This award, IFA's and most prestigious, ......
A Chicago-area lunchmeat distributor's lucky number has turned out to be 7-Eleven. Due in large part to a new contract to be a commissary operator ......
Bad science and frequent phone calls obscure whatever it is that playwright Nick Starr has tucked into this blessedly short (75 minutes) work. Nathan (Anthony ......
The Tokyo-based company to open convenience stores in Oregon, Washington and California as early as next year.
Low overhead is an added benefit. The ever-watchful eye on the bottom line, and the need to remain flexible to stay competitive, has forced an ......
Frank Crivello's world is one that revolves around Slurpees and blessings. Actually, on a 90-degree day, the veep and GM of Southland Corp.'s Northeast Division ......
New venture hopes to profit by bailing out bankrupt firms In a sign of the changed economic times, GE Capital Corp., the New York-based commercial ......
MESQUITE, Texas--(BUSINESS WIRE)--Aug. 30, 1996--id Software's Internet gaming sensation QUAKE(TM) hit store shelves across the globe today. Gamers can pick up the low-cost shareware at ......
Terry L. Lehman began his convenience store career with The Southland Corp. (now 7-Eleven Inc.) in 1965, after serving four years in the United States ......
Thomas Watkins arrived for work at the 7-Eleven already thinking about the end of his shift. His mind was focused on his art studio, where ......
Email
Digg It
del.icio.us
Related Resources
Press Releases
Business Resources
Sponsored Links
Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy
Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.
© Copyright 2003 Nielsen Business Media, Inc. All rights reserved.
You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.
Get In-Depth Company Information from Hoover's | Buy a D&B Credit Report | What is in Your Company's D&B Credit Report? | Article Archives
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
Information and opinions on AllBusiness.com solely represent the thoughts and opinions of the authors and are not endorsed by, or reflect the beliefs of,
AllBusiness.com, its parent company D&B, and its affiliates.
AllBusiness.com, its parent company D&B, and its affiliates.
