Spotlight: Black Angus Restaurants May Be Sold

Newport Beach-based American Restaurant Group said it is trying to sell its 101 Black Angus steakhouses to help ease a debt burden. The company disclosed in a recent Securities and Exchange Commission filing that it wants to sell the Black Angus division to meet a $41-million debt payment due Sept. 15. The company was four weeks late in making a $1.2-million quarterly interest payment due June 15, according to the filing. Black Angus generated $255 million in revenue last year.