DALLAS, Jan. 20, 1999 (PRIMEZONE) -- Total Entertainment Restaurant Corp. (NASDAQ:TENT) today announced the appointment of two new directors, E. Gene Street, 58, and John D. Harkey, Jr., 38. Mr. Street and Mr. Harkey are both principals in the investment firm Cracken, Harkey, Street & Hartnett, L.L.C. ("CHSH"). CHSH formed Consolidated Restaurants Companies, Inc. ("CRC"), a Dallas-based holding company which owns the restaurant concepts El Chico, Cantina Laredo, El Chico Cafe, Good Eats and Cool River Cafe, and is scheduled to consummate the acquisition of Spaghetti Warehouse and Spaghetti Warehouse Italian Grill this month. Mr. Street serves as Vice Chairman, President, and Chief Executive Officer and Mr. Harkey serves as Chairman of CRC.
Mr. Street has owned and operated numerous other restaurants in Mexico, London, Hawaii, Florida and other U.S. states in his 27 year career in the restaurant sector including founding of the concepts Black Eyed Pea and Good Eats. Mr. Street commented, "I had an opportunity to be involved as a partner with Fox and Hound English Pub & Grille at the inception of the concept and I let that opportunity slip away. I was not going to let my second chance to be involved with this great company pass me by again."
Mr. Harkey graduated with a B.B.A. and a J.D. from the University of Texas at Austin and a M.B.A. from Stanford University and has extensive experience in mergers and acquisitions and senior management with a multitude of operating companies. Mr. Harkey stated, "Total Entertainment Restaurant Corp. is dynamic and growing. I'm extremely excited to be able to participate in the new direction of the Company."
Dennis L. Thompson, Co-Chairman, said, "We are very fortunate to have both Gene and John on our Board. Gene will be a valuable asset with regards to operations and purchasing and John's knowledge of the financial and capital markets will significantly assist us as we continue to grow our Company."
This Press Release contains certain forward-looking statements including development plans of the Company within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although the Company believes the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements contained in the Press Release will prove to be accurate.