SCOTTSDALE, Ariz., March 3 /PRNewswire-FirstCall/ -- 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.
SOURCE Star Buffet, Inc.