Champps Entertainment Ends Sale Process
May 18 2007 - 9:00AM
Business Wire
Champps Entertainment, Inc. (NASDAQ: CMPP) today announced that the
special committee of its board of directors that had been exploring
a sale of the Company has terminated the sale process. The
committee solicited a number of prospective purchasers, but did not
receive any definitive proposals that the committee deemed
acceptable. The Company said that its board of directors remains
committed to supporting management's ongoing efforts to focus on
the basics of the Champps� business and its previously disclosed
initiatives to improve profitability. The board has also authorized
Champps' Chairman and CEO, Mike O�Donnell, and his management team
to explore opportunities to increase shareholder value, including
evaluation of acquisitions that leverage the Company�s
infrastructure and expertise. About Champps Entertainment, Inc.
Champps Entertainment, Inc. owns and operates 49 and
franchises/licenses 12 restaurants in 21 states. Champps, which
competes in the upscale casual dining segment, offers an extensive
menu consisting of freshly prepared food, coupled with exceptional
service. Champps creates an exciting environment through the use of
videos, music, sports and promotions. Safe Harbor Statement Certain
statements made in this press release are forward-looking
statements. These forward-looking statements are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Such statements involve certain risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. Such forward-looking
statements include statements regarding our efforts to improve
profitability and increase shareholder value. Information on
significant potential risks and uncertainties that may also affect
future results include, but are not limited to, those mentioned by
the Company from time to time in its filings with the SEC. The
words "may," "will," "believe," "estimate," "expect," "plan,"
"intend," "project," "anticipate," "could," "would," "should,"
"seek," "continue" "pursue" and similar expressions and variations
thereof identify certain of such forward-looking statements, which
speak only as of the dates on which they were made. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and, therefore, readers should
not place undue reliance on these forward-looking statements.
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