Green Burrito Reports $1.7-Million Loss
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ANAHEIM — GB Foods Corp., owner of the Green Burrito restaurant chain, reported Friday a loss of $1.7 million for 1992.
The company said in a statement that its loss from continuing operations was $1.5 million, not counting a write-off of $183,000 related to the planned closing of the company’s commissary, or meat-processing operation.
For the fourth quarter, the company reported a loss from continuing operations of $280,000 for restructuring charges related to company-owned restaurants. The company closed three restaurants in 1992 and opened 23.
In addition, the company wrote off $236,000 in assets that it said are no longer part of its strategic plan. The company did not specify the assets, and it reported $230,000 of other operational losses for a total operating loss of $746,000.
The company did not disclose revenue figures, and officials could not be reached for comment.
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