Irvine Restaurant Firm Posts $74.3-Million Loss

Prandium Inc., the Irvine operator of Chi-Chi’s and Koo Koo Roo restaurant chains, reported a fourth-quarter loss of $74.3 million, or 41 cents a share, compared with a loss of $14.1 million, or 8 cents a share, in the final three months of 1999. Quarterly sales fell 41% to $75.6 million.

For the year, Prandium posted a loss of $41.8 million, or 23 cents a share, compared with a loss of $36.5 million, or 20 cents a share, the previous year. Annual sales fell to $424.6 million from $536.6 million.

The company sold its El Torito chain in June. Bigger losses were attributed to expenses of divesting, writing down and writing off the value of various assets.