Acquisition (Tables)

9 Months Ended

Sep. 30, 2012

Business Combinations [Abstract]

Purchase price [Table Text Block]

The total cash consideration paid at closing is reconciled as follows:

Fair value of assets acquired, including cash acquired	$	74,712
Less: Cash acquired	417
Less: equity consideration - issuance of 100 shares of Series A Convertible Preferred Stock	57,711
Less: additional consideration accrued but not paid	4,449
Net cash paid for the acquisition	$	12,135

The aggregate transaction value, net of cash acquired, was $74.7 million as follows:

Equity consideration - Issuance of 100 shares of Series A Convertible Preferred Stock	$	57,711
Cash purchase price:
Cash	417
Inventory	3,336
Franchise fees	9,443
Right of first refusal	3,805
Total estimated consideration	$	74,712

Schedule of Purchase Price Allocation [Table Text Block]

The preliminary allocation of the purchase price to the tangible and identifiable intangible assets acquired and liabilities assumed in the acquisition was as follows (in thousands):

Cash	$	417
Inventory	3,336
Restaurant equipment	26,857
Restaurant equipment - subject to capital lease	10,870
Favorable/unfavorable leases	113
Capital lease obligation for equipment	(10,870		)
Franchise fees	9,443
Franchise rights	34,546
Net assets acquired	$	74,712

Business Acquisition, Pro Forma Information [Table Text Block]

The following table summarizes the Company's unaudited proforma operating results (in thousands):

	Three Months Ended			Nine Months Ended
	October 2, 2011			September 30, 2012			October 2, 2011
Restaurant sales	$	167,204		$	502,449		$	482,700
Net loss from continuing operations	$	(2,312	)	$	(15,629	)	$	(6,074	)
Net loss per share from continuing operations, basic and diluted	$	(0.11	)	$	(0.69	)	$	(0.28	)