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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report: January 4, 1996
COOKER RESTAURANT CORPORATION
(Exact Name of Registrant as Specified in Charter)
Delaware 1-13044 62-1292102
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification No.)
5500 Village Boulevard, West Palm Beach, Florida 33407
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (407) 615-6000
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ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
The Registrant purchased six properties from a subsidiary of Darden
Restaurants, Inc. for a cash purchase price of approximately $11,200,000. The
final closing of these transactions occurred on January 4, 1996. The properties
purchased by the Registrant had been used by Darden or its subsidiaries and
their respective predecessors as "China Coast Restaurants," but Darden and its
subsidiaries, or their predecessors, closed them prior to putting them up for
sale. The Registrant plans to remodel these properties extensively to conform to
its requirements, prior to opening them as Cooker Bar and Grille(R) restaurants
in the second and third quarters of 1996. The funds used to pay for this
purchase were provided by draws on the Registrant's line of credit from First
Union National Bank of Tennessee. In December, 1995, the availability of the
line of credit was increased from $16,300,000 to $33,000,000 and the revolving
period of the agreement was extended to December 31, 1997 (which will then
convert to a five year term loan) in contemplation of this purchase and in order
to provide funds for remodeling these properties and for other capital projects
in 1996 and 1997.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
99.1 Purchase and Sale Agreement dated October 20, 1995 between GMRI, Inc.
and Registrant.
99.2 First Amendment to Purchase and Sale Agreement dated October __, 1995
between GMRI, Inc. and Registrant.
99.3 Joinder of Escrow Agreement dated October 25, 1995 among Lawyers
Title Insurance Corporation, GMRI, Inc. and Registrant.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on behalf of the undersigned
hereunto duly authorized.
COOKER RESTAURANT CORPORATION
Date: January 12, 1996 By: /s/ G. Arthur Seelbinder
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Name: G. Arthur Seelbinder
Title: Chairman of the Board and
Chief Executive Officer
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EXHIBIT INDEX
Exhibit Number Description
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99.1 Purchase and Sale Agreement dated October 20, 1995
between GMRI, Inc. and Registrant.
99.2 First Amendment to Purchase and Sale Agreement
dated October __, 1995 between GMRI, Inc. and
Registrant.
99.3 Joinder of Escrow Agreement dated October 25, 1995
among Lawyers Title Insurance Corporation, GMRI,
Inc. and Registrant.
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