EXHIBIT 99.2 NE RESTAURANT COMPANY, INC. EXCHANGE OFFER TO HOLDERS OF ITS 10 3/4% SENIOR NOTES DUE 2008 NOTICE OF GUARANTEED DELIVERY This Notice of Guaranteed Delivery or a form substantially equivalent hereto must be used to accept the Exchange Offer of NE Restaurant Company, Inc. (the "Company") made pursuant to the prospectus dated _____, 1998 (the "Prospectus") and the accompanying letter of transmittal (the "Letter of Transmittal"), if certificates for the above-referenced 10 3/4% Senior Notes due 2008 (the "Private Notes") are not immediately available or time will not permit all required documents to reach United States Trust Company of New York (the "Exchange Agent") prior to the Expiration Date (as defined in the Prospectus) of the Exchange Offer (as defined below) or if the procedures for book-entry transfer cannot be completed on a timely basis. This form may be delivered by an Eligible Institution (as defined in the Letter of Transmittal) by hand or by telegram, facsimile transmission or mail to the Exchange Agent. UNITED STATES TRUST COMPANY OF NEW YORK BY REGISTERED OR BY OVERNIGHT COURIER (OR BY HAND BEFORE 4:30 P.M.: CERTIFIED MAIL: BY HAND AFTER 4:30 P.M. United States Trust Company United States Trust ON THE EXPIRATION DATE): of New York Company of New York United States Trust 111 Broadway, Lower Level P.O. Box 844 Company of New York New York, New York 10006 Cooper Station 770 Broadway, 13th Floor Attn: Corporate Trust New York, New York New York, New York 10003 Services 10276-0844 Attn: Corporate Trust Attn: Corporate Trust Services Services BY FACSIMILE TRANSMISSION: (For Eligible Institutions Only) United States Trust Company of New York 212-780-0592 Attn: Corporate Trust Services Confirm by Telephone: 800-548-6565 DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR TRANSMISSION OF INSTRUCTIONS VIA A FACSIMILE TRANSMISSION TO A NUMBER OTHER THAN AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY. This form is not to be used to guarantee signatures. If a signature on the Letter of Transmittal is required to be guaranteed by a Medallion Signature Guarantor under the instructions thereto, such signature guarantee must appear in the applicable space provided in the signature box on the Letter of Transmittal. Ladies and Gentlemen: The undersigned hereby tenders to the Company upon the terms and conditions set forth in the Prospectus and the Letter of Transmittal (which together constitute the "Exchange Offer"), receipt of which is hereby acknowledged, the principal amount of Private Notes set forth below, pursuant to the guaranteed delivery procedure described in the Prospectus and the Letter of Transmittal under the section entitled "The Exchange Offer-Guaranteed Delivery Procedures." The undersigned hereby represents and warrants that the undersigned has full power and authority to tender the Private Notes. The undersigned authorizes the Exchange Agent to deliver this Notice of Guaranteed Delivery to the Company and the Trustee as evidence of the undersigned's tender of the Privates Notes. All authority herein conferred or agreed to be conferred by this Notice of Guaranteed Delivery shall survive the death or incapacity of the undersigned and every obligation of the undersigned under this Notice of Guaranteed Delivery shall be binding upon the heirs, personal representatives, executors, administrators, successors, assigns, trustees in bankruptcy and other legal representatives of the undersigned. Signature(s) ____________________ Address ____________________________ _________________________________ ____________________________________ Name(s)__________________________ Area Code and Tel. No.(s)___________ _________________________________ If Private Notes will be delivered by Please Type or Print book-entry transfer, check box and provide account number. Certificate Nos. |_| The Depository Trust Company (if available)___________________ Account Number:_____________________ Principal Amount of Private Notes Represented by Certificate(s)_______________________ GUARANTEE (NOT TO BE USED FOR SIGNATURE GUARANTEE) The undersigned, a firm which is a member of a registered national securities exchange or of the National Association of Securities Dealers, Inc., or is a commercial bank or trust company having an office or correspondent in the United States, or is otherwise and "eligible guarantor institution" within the meaning of Rule 17Ad-15 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), guarantees deposit with the Exchange Agent of the Letter of Transmittal (or facsimile thereof) with any required signature guarantees, together with the Private Notes tendered hereby in proper form for transfer (or timely confirmation of the book-entry transfer of such Private Notes into the Exchange Agent's account at the Depository Trust Company and any other required documents, all by 5:00 p.m., New York City time, on the third New York Stock Exchange trading day following the Expiration Date. The institution that completes this form must communicate the guarantee to the Exchange Agent and must deliver the Letter of Transmittal and Notes to the Exchange Agent within the time period shown herein. Failure to do so could result in a financial loss to the undersigned. - --------------------------------- ------------------------------------ Name of Firm Authorized Signature - --------------------------------- ------------------------------------ Address Title - --------------------------------- Zip Code Please Type or Print Area Code and Tel. No. __________ Dated ______________________________