EX-99.1
2
a08-7589_1ex99d1.htm
EX-99.1
Exhibit 99.1
Contact:
Robert E. Wheaton
President, CEO
Star Buffet, Inc.
(480) 425-0397
FOR IMMEDIATE
RELEASE: Monday, March 3, 2008
STAR
BUFFET, INC. COMPLETES PURCHASE
OF
ADDITIONAL BARNHILL'S BUFFET RESTAURANTS
SCOTTSDALE, AZ - March 3,
2008 - Star Buffet, Inc. (NASDAQ: STRZ) announced today that its
wholly-owned Starlite Holdings, Inc. subsidiary completed the acquisition
of four (4) additional Barnhill's buffet restaurants…one each in Gulfport
and Moss Point, Mississippi and Apopka and Orange City, Florida. The acquisition was completed in conjunction
with Barnhill's Buffet, Inc.'s Chapter 11 reorganization and approved by
the U.S. Bankruptcy Court of the Middle District of Tennessee. The purchase of these four (4) restaurants
brings the total number of Barnhill's buffet restaurants acquired to twenty
(20) and completes Star Buffet's previously announced plans to acquire certain
Barnhill's buffet restaurants as part of Barnhill's Buffet, Inc.'s plans
to restructure its operations.
Safe Harbor
Statement
Statements that
are not historical facts contained in this release are forward-looking
statements that involve risks and uncertainties, and actual results could vary
materially from the descriptions contained herein due to many factors, including,
but not limited to, product demand and market acceptance risks, the effect of
economic conditions, the impact of competitive products and pricing, the
results of financing efforts, implementation of the Company's acquisition and
strategic alliance strategy, the effect of the Company's accounting policies and other risks
detailed in the Company's Form 10-K for its fiscal year ended January 29,
2007, and other filings with the Securities and Exchange Commission. Copies of all of the Company's filings with
the SEC are available to the public on the SEC's web site at
http://www.sec.gov. The Company
undertakes no obligation to update any forward-looking statements.
About Star Buffet
Star Buffet is a
multi-concept restaurant operator. As of
March 3, 2008, Star Buffet, through its subsidiaries, operates 20 Barnhill's
Buffet restaurants, 12 franchised HomeTown Buffets, seven JB's Family
restaurants, five Whistle Junction restaurants, four BuddyFreddys restaurants,
three 4B's restaurants, three Holiday House Family restaurants, three Western
Sizzlin restaurants, two K-BOB'S Steakhouses, two JJ North's Country Buffet,
one Pecos Diamond Steakhouse, one Bar H Steakhouse and one Casa Bonita Mexican
theme restaurant.
-end-

EX - 99 . 1 2 a08 - 7589 _ 1ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 Contact : Robert E . Wheaton President , CEO Star Buffet , Inc . ( 480 ) 425 - 0397 FOR IMMEDIATE RELEASE : Monday , March 3 , 2008 STAR BUFFET , INC . COMPLETES PURCHASE OF ADDITIONAL BARNHILL 'S BUFFET RESTAURANTS SCOTTSDALE , AZ - March 3 , 2008 - Star Buffet , Inc . ( NASDAQ : STRZ ) announced today that its wholly - owned Starlite Holdings , Inc . subsidiary completed the acquisition of four ( 4 ) additional Barnhill 's buffet restaurants … one each in Gulfport and Moss Point , Mississippi and Apopka and Orange City , Florida . The acquisition was completed in conjunction with Barnhill 's Buffet , Inc . 's Chapter 11 reorganization and approved by the U . S . Bankruptcy Court of the Middle District of Tennessee . The purchase of these four ( 4 ) restaurants brings the total number of Barnhill 's buffet restaurants acquired to twenty ( 20 ) and completes Star Buffet 's previously announced plans to acquire certain Barnhill 's buffet restaurants as part of Barnhill 's Buffet , Inc . 's plans to restructure its operations . Safe Harbor Statement Statements that are not historical facts contained in this release are forward - looking statements that involve risks and uncertainties , and actual results could vary materially from the descriptions contained herein due to many factors , including , but not limited to , product demand and market acceptance risks , the effect of economic conditions , the impact of competitive products and pricing , the results of financing efforts , implementation of the Company 's acquisition and strategic alliance strategy , the effect of the Company 's accounting policies and other risks detailed in the Company 's Form 10 - K for its fiscal year ended January 29 , 2007 , and other filings with the Securities and Exchange Commission . Copies of all of the Company 's filings with the SEC are available to the public on the SEC 's web site at http://www.sec.gov . The Company undertakes no obligation to update any forward - looking statements . About Star Buffet Star Buffet is a multi - concept restaurant operator . As of March 3 , 2008 , Star Buffet , through its subsidiaries , operates 20 Barnhill 's Buffet restaurants , 12 franchised HomeTown Buffets , seven JB 's Family restaurants , five Whistle Junction restaurants , four BuddyFreddys restaurants , three 4B 's restaurants , three Holiday House Family restaurants , three Western Sizzlin restaurants , two K - BOB 'S Steakhouses , two JJ North 's Country Buffet , one Pecos Diamond Steakhouse , one Bar H Steakhouse and one Casa Bonita Mexican theme restaurant . - end -
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