GHS Management Inc, et al. – ‘SC 13D/A’ on 7/1/97 re: El Chico Restaurants Inc

As of:  Tuesday, 7/1/97   ·   Accession #:  950134-97-5076   ·   File #:  5-34892

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Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Amendment No. 1 to Schedule 13-D                       7     26K 

Document Table of Contents

SC 13D/A
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.

SCHEDULE 13D

UNDER THE SECURITIES EXCHANGE ACT OF 1934 
(AMENDMENT NUMBER 1)

EL CHICO RESTAURANTS, INC.
------------------------------------------------------------------------------- 
(NAME OF ISSUER)

COMMON STOCK, $0.10 PAR VALUE PER SHARE 
------------------------------------------------------------------------------- 
(TITLE OF CLASS OF SECURITIES)

282879-10-5 
------------------------------------------------------------------------------- 

JAMES F. GALLIVAN, JR.
GHS MANAGEMENT, INC.
8235 DOUGLAS AVENUE, SUITE 420
DALLAS, TEXAS 75225 
(214)696-2700 
------------------------------------------------------------------------------- 
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON 
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS) 

JULY 1, 1997
------------------------------------------------------------------------------- 
(DATE OF EVENT WHICH REQUIRES 
FILING OF THIS STATEMENT) 

IF THE FILING PERSON HAS PREVIOUSLY FILED A STATEMENT ON SCHEDULE 13G TO REPORT 
THE ACQUISITION WHICH IS THE SUBJECT OF THIS SCHEDULE 13D, AND IS FILING THIS   
SCHEDULE BECAUSE OF RULE 13d-1(b)(3) OR (4), CHECK THE FOLLOWING BOX [ ].       

CHECK THE FOLLOWING BOX IF A FEE IS BEING PAID WITH THIS STATEMENT [ ].         

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CUSIP NO.  282879-10-5                 13D                  PAGE 2 OF 7 PAGES   

                                                                                
(1)      Name of Reporting Person                           GHS Management, Inc.
         S.S. or I.R.S. Identification                      75-2345463          
         No. of Above Person                                                    

(2)      Check the Appropriate Box if a                     (a)                 
         Member of a Group (see instructions)               (b)      X          

(3)      SEC Use Only                                                           

(4)      Source of Funds (see instructions)                 WC                  

(5)      Check if Disclosure of Legal                                           
         Proceedings is Required Pursuant                                       
         to Items 2(d) or 2(e)                                                  

(6)      Citizenship or Place of Organization               Texas               

         Number of Shares     (7)  Sole Voting Power        70,200(1)           
         Beneficially owned                                                     
         by Each Reporting    (8)  Shared Voting Power      -0-                 
         Person with                                                            
                              (9)  Sole Dispositive Power   70,200(1)           

(10)     Shared Dispositive Power                           -0-                 

(11)     Aggregate Amount Beneficially                      70,200              
         Owned by Each Reporting Person                                         

(12)     Check if the Aggregate Amount in                                       
         Row (11) Excludes Certain Shares                                       
         (See instructions)                                                     

(13)     Percent of Class Represented by                    1.9%                
         Amount in Row (11)                                                     

(14)     Type of Reporting Person (See                      CO                  
         Instructions)                                                          

--------------------------------                                                
(1)  GHS Management, Inc. has sole voting and dispositive power with respect to 
the shares of Common Stock held by GHS Partners LDC.                  

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CUSIP NO.  282879-10-5                 13D                    PAGE 3 OF 7 PAGES

                                                                               
(1)      Name of Reporting Person                             G. Houston Hall  
         S.S. or I.R.S. Identification                        463-78-3764      
         No. of Above Person                                                   

(2)      Check the Appropriate Box                            (a)              
         if a Member of a Group (See                          (b)  X           
         instructions)                                                         

(3)      SEC Use Only                                                          

(4)      Source of Funds (See                                 WC               
         instructions)                                                         

(5)      Check if Disclosure of Legal                                          
         Proceedings is Required Pursuant                                      
         to Items 2(d) or 2(e)                                                 

(6)      Citizenship or Place of                              USA              
         Organization                                                          

         Number of Shares       (7)  Sole Voting Power        94,900(1)        
         Beneficially Owned                                                    
         by Each Reporting      (8)  Shared Voting Power      0                
         Person with                                                           
                                (9)  Sole Dispositive Power   94,900(1)        

(10)     Shared Dispositive Power                             0                

(11)     Aggregate Amount Beneficially                        94,900(2)        
         owned by Each Reporting Person                                        

(12)     Check if the Aggregate Amount in                                      
         Row (11) Excludes Certain Shares                                      
         (See instructions)                                                    

(13)     Percent of Class Represented by                      2.6%             
         Amount in Row (11)                                                    

(14)     Type of Reporting Person (See                        IN               
         instructions)                                                         

---------------------------------                                               
(1)  Mr. Hall has voting and dispositive power with respect to the aggregate    
94,900 shares of Common Stock held by Falcon Fund, Ltd.               

(2)  Includes the aggregate of 94,900 shares of Common Stock held by Falcon     
Fund, Ltd.                                                            

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CUSIP NO.  282879-10-5                 13D                    PAGE 4 OF 7 PAGES

                                                                               
(1)      Name of Reporting Person                             James C. Smith   
         S.S. or I.R.S. Identification                        459-76-8919      
         No. of Above Person                                                   

(2)      Check the Appropriate Box if                         (a)              
         a Member of a Group (See                             (b)  X           
         instructions)                                                         

(3)      SEC Use Only                                                          

(4)      Source of Funds (See                                 PF, WC           
         instructions)                                                         

(5)      Check if Disclosure of Legal                                          
         Proceedings is Required Pursuant                                      
         to Items 2(d) or 2(e)                                                 

(6)      Citizenship or Place of                              USA              
         Organization                                                          

         Number of Shares      (7)  Sole Voting Power         107,200(1)       
         Beneficially Owned                                                    
         by Each Reporting     (8)  Shared Voting Power       0                
         Person with                                                           
                               (9)  Sole Dispositive Power    107,200(1)       

(10)     Shared Dispositive Power                             0                

(11)     Aggregate Amount Beneficially                        107,200(2)       
         Owned by Each Reporting Person                                        

(12)     Check if the Aggregate Amount in                                      
         Row (11) Excludes Certain Shares                                      
         (See instructions)                                                    

(13)     Percent of Class Represented by                      2.9%             
         Amount in Row (11)                                                    

(14)     Type of Reporting Person (See                        IN               
         instructions)                                                         

-----------------------------------                                             
(1)  Mr. Smith has voting and dispositive power with respect to the aggregate   
   of 107,200 shares of Common Stock held by him and GHS Partners LDC (which
is managed by GHS Management, Inc.).                                  

(2)  Includes the aggregate of 70,200 shares of Common Stock held by GHS        
Partners LDC which is managed by GHS Management, Inc.                 

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CUSIP NO.  282879-10-5                 13D                  PAGE 5 OF 7 PAGES   

        The statement on Schedule 13D relating to the Common Stock of El Chico
Restaurants, Inc. filed June 11, 1997, by GHS Management, Inc., G. Houston Hall 
and James C. Smith, is hereby amended and supplemented as follows:              

Item 2.           Identity and Background.                                      

                (a), (b) and (c). This Statement is filed by GHS Management,
Inc., a Texas corporation ("GHS"), G. Houston Hall and James C. Smith. The      
present principal occupation or employment of Mr. Smith is the management of    
his personal investments and those managed by GHS. The present principal        
occupation or employment of Mr. Hall is the management of his personal          
investments and of Falcon Fund, Ltd. Mr. Hall also serves as the sole general   
partner of Falcon Fund, Ltd., a Texas limited partnership ("Falcon"). The       
principal business of GHS is investment and trading of capital stocks,          
warrants, bonds, notes, debentures and other securities for funds it manages    
for others. Effective July 1, 1997, Mr. Smith ceased to have any beneficial     
ownership, for purposes of Schedule 13D, in the securities of the Company held  
by Falcon; and Mr. Hall ceased to have any beneficial ownership, for the        
purposes of Schedule 13D, in the securities of the Company held by GHS or GHS   
Partners (as defined below). Accordingly, effective July 1, 1997, none of GHS,  
Mr. Hall or Mr. Smith beneficially owns 5% or more of the outstanding Common    
Stock of the Company.                                                           

       As of July 1, 1997, GHS has sole investment authority with respect to
shares of Common Stock held by GHS Partners LDC ("GHS Partners"); James C.      
Smith has investment authority over the funds managed by GHS; Mr. Hall, as sole 
general partner of Falcon, has sole investment authority over it; Mr. Hall has  
sole investment authority for shares held in his name; and Mr. Smith has sole   
investment authority for shares held in his name.                               

    The principal place of business for Messrs. Hall and Smith and GHS
Management, Inc. is 8235 Douglas Avenue, Suite 420, Dallas, Texas  75225.       

                (d) None of GHS, Mr. Hall or Mr. Smith, during the last five
years, has been convicted in criminal proceedings (excluding traffic violations 
or similar misdemeanors).                                                       

                (e) None of GHS, Mr. Hall or Mr. Smith, during the last five
years, has been a party to a civil proceeding of a judicial or administrative   
body of competent jurisdiction and as a result of such proceeding was or is     
subject to a judgment, decree or final order enjoining future violations of, or 
prohibiting or mandating activities subject to, federal or state securities     
laws or finding any violation with respect to such laws.                        

                (f) Messrs. Hall and Smith are citizens of the United States
of America.                                                                     

Item 3.           Source and Amount of Funds or Other Consideration.            

      The aggregate of 94,900 shares of Common Stock beneficially owned by
Mr. Hall and Falcon were purchased in transactions effected in the              
over-the-counter markets for an aggregate                                       

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CUSIP NO.  282879-10-5                 13D                   PAGE 6 OF 7 PAGES  

purchase price of $760,243.75 (including brokerage commissions); and the        
aggregate of 107,200 shares of Common Stock beneficially owned by GHS and Mr.   
Smith were purchased in transactions effected in the over-the-counter markets   
for an aggregate purchase price of $871,723.25 (including brokerage             
commissions), all of which was derived from working capital (in the case of GHS 
and Falcon) and personal funds (in the case of Messrs. Hall and Smith).         

Item 5.           Interest in Securities of the Issuer.                         

             (a) As of July 1, 1997, (i) GHS beneficially owned 70,200
shares of Common Stock of the Company, representing approximately 1.9% of the   
outstanding Common Stock of the Company; (ii) Mr. Hall beneficially owned       
94,900 shares of Common Stock (including the 94,900 owned by Falcon),           
representing approximately 2.6% of the outstanding Common Stock of the Company; 
and (iii) Mr. Smith beneficially owned 107,200 shares of Common Stock           
(including the 70,200 shares owned by GHS), representing approximately 2.9% of  
the outstanding Common Stock of the Company.                                    

    According to the Issuer's Report on Form 10-Q for the period ended
March 31, 1997, a total of 3,706,335 shares of Common Stock were issued and     
outstanding on April 30, 1997.                                                  

               (b) Mr. Smith has the sole power to vote and dispose of the
Common Stock beneficially owned by him and GHS; Mr. Hall has the sole power to  
vote and dispose of the Common Stock beneficially owned by him and Falcon.      

                 (c) During the 60 days prior to and including the date of the
event which requires the filing of this Statement, GHS and Messrs. Hall and     
Smith effected no transactions in the Common Stock of the Company.              

(d) Not applicable. 

(e) Not applicable. 

Item 6.           Contracts, Arrangements, Understandings or Relationships with 
Respect to Securities of the Issuer.        

          None of GHS, Mr. Hall or Mr. Smith have any contracts,
           arrangements, understandings or relationships (legal or
                otherwise) between themselves and any person with respect to
any securities of the Issuer.               

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CUSIP NO.  282879-10-5                 13D                    PAGE 7 OF 7 PAGES 

Signatures
----------

      After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is   
true, complete and correct.                                                     

Dated:  July 1, 1997                                          

                    GHS Management, Inc.

                                By:   /s/ James F. Gallivan, Jr.
                                             ---------------------------------
               Its:  President

                    /s/  G. Houston Hall
                                       ---------------------------------------
               G. Houston Hall

                   /s/  James C. Smith
                                       ---------------------------------------
              James C. Smith

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘SC 13D/A’ Filing		Date		First		Last			Other Filings
Filed on:		7/1/97		1		7			SC 13D/A
		6/11/97		5					SC 13D
		4/30/97		6
		3/31/97		6					10-Q
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