American Restaurant Group misses payment, hires Jefferies as advisor

By Jeff Pines

Washington, May 4 - American Restaurant Group, Inc. missed the semi-annual interest payment due May 3 on its 11½% notes maturing 2006 and hired Jefferies & Co. as its financial advisor, the company said in a Tuesday Securities and Exchange Commission filing.

American Restaurant, which owns more than 100 Stuart Anderson's steakhouses, has $161.8 million of the notes outstanding, according to its most recent 10-K filed with the SEC.

The Los Altos, Calif.-based company's grace period ends June 2.

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