Bravo Brio Restaurant reports Q2 comparable restaurant sales down 1%
Bravo Brio Restaurant announced total comparable restaurant sales decreased 1.0% for the thirteen week period ended June 25, 2017 consisting of a decrease of 1.1% at BRAVO! and a decrease of 0.9% at BRIO. The company has received an extension to August 25, 2017 of its previously announced waiver for its credit agreement with Wells Fargo Bank and certain lenders. The waiver extension provides a limited waiver of certain events of default by the company under the credit agreement relating to the company's non-compliance with the consolidated lease-adjusted leverage ratio contained in the credit agreement which arose out of the company's requests for, and borrowings of, loans made during the second quarter. Pursuant to and subject to the terms of the amended waiver agreement, the required lenders waived such existing events of default.