SEC Info  
    Home      Search      My Interests      Help      Sign In      Please Sign In

Meritage Hospitality Group Inc – ‘8-K’ for 8/1/98

As of:  Wednesday, 9/9/98   ·   For:  8/1/98   ·   Accession #:  892251-98-282   ·   File #:  1-12319

Previous ‘8-K’:  ‘8-K/A’ on 8/10/98 for 6/16/98   ·   Next:  ‘8-K/A’ on / for 11/12/98   ·   Latest:  ‘8-K’ on / for 1/23/07

Find Words in Filings emoji
 
  in    Show  and   Hints

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 9/09/98  Meritage Hospitality Group Inc    8-K:2,7     8/01/98    2:19K                                    Keating Muet… Klekamp/FA

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2     11K 
 2: EX-10       Mortgage Note                                          5     23K 


8-K   —   Current Report
Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
2Item 2. Acquisition or Disposition of Assets
"Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
8-K1st Page of 2TOCTopPreviousNextBottomJust 1st
 

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): September 1, 1998 MERITAGE HOSPITALITY GROUP INC. -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) MICHIGAN -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 0-17442 38-2730460 ------------------------ ----------------------------- (Commission File Number) (IRS Employer Identification Number) 40 PEARL STREET, N.W., SUITE 900 GRAND RAPIDS, MICHIGAN 49503 -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: (616) 776-2600
8-KLast Page of 2TOC1stPreviousNextBottomJust 2nd
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS On September 1, 1998, the Company's wholly-owned subsidiary, Thomas Edison Inn, Incorporated, sold real and personal property including (i) the hotel and restaurant facility (known as the Thomas Edison Inn) located at 500 Thomas Edison Parkway, Port Huron, Michigan (the "Hotel"), (ii) the fixtures, furniture, furnishings, equipment and supplies used in the operation of the Hotel, and (iii) certain other real and personal property owned by the subsidiary and located adjacent to the Hotel (collectively, the "Assets"). The Assets were sold to Innkeeper's Management, LLC and its affiliate, Reynolds/Ehinger Enterprises, LLC, both of whom have no relation to the Company. The Assets were sold for $12,200,000 pursuant to the terms of an agreement dated April 16, 1998 and amended on September 1, 1998. The purchase price was comprised of $10,200,000 in cash and a $2,000,000 one-year secured note bearing interest at 8.0% over the prime lending rate. The Company reduced its long-term indebtedness by approximately $9,600,000 as a result of the sale. In addition, on September 1, 1998, the Company, through its Wendy's of Michigan operations, purchased real property comprising five of the Wendy's restaurants currently operated by the Company from the Wendy's Real Estate Limited Partnership I (an unrelated party) for $4,200,000. The acquisition was financed by Captec Financial Group, Inc., who provided the Company with a 20-year mortgage loan bearing interest at 8.15% and secured by the real estate acquired. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS Exhibit No. Description of Document ----------- ----------------------- 10.1 Promissory Note dated September 1, 1998 among Meritage Hospitality Group Inc., as lender, and Reynolds/Ehinger Enterprises, LLC, as borrower (filed herewith). The Company will file the required financial information no later than November 16, 1998. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized. MERITAGE HOSPITALITY GROUP INC. Dated: September 9, 1998 By: /s/ Christopher B. Hewett ------------------------------- Christopher B. Hewett President and Chief Executive Officer

Dates Referenced Herein

Referenced-On Page
This ‘8-K’ Filing    Date First  Last      Other Filings
11/16/982None on these Dates
Filed on:9/9/982
9/1/9812
For Period End:8/1/98
4/16/982
 List all Filings 
Top
Filing Submission 0000892251-98-000282   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
AboutPrivacyRedactionsHelp — Thu., Mar. 28, 5:35:55.2am ET