2theadvocate.com - Cafeteria chain agrees to $54... -
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Published on: 10/31/2003
Last Visited: 10/31/2003
TruFoods president and Chief Executive Officer Jeffrey Bernstein said the company intends to keep Piccadilly's corporate headquarters on Sherwood Forest Boulevard and that he doesn't expect any layoffs.
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Bernstein said TruFoods, a privately held company, was attracted to Piccadilly's history and strong brand identity, but said it was the attitude of the employees working the cafeteria line and their close bond with customers.
"The attitude of the people behind the line is tremendous," he said."They know their customers ...I walked away from my first experience saying, 'You know what, I would eat here.'"
Changes could be on way
Bernstein said he's not afraid of the standard knock on the cafeteria segment, that its time has passed.
"We like the concept, despite what many in the industry have to say about it," he said."There is still a strong, healthy core business here, and there are good people."
Bernstein said the company will look at all its options, including making Piccadilly all-you-can-eat and introducing lighter fare, such as salads and wrap sandwiches.
"We will evaluate all aspects of the business," he said.
TruFoods operates and franchises Arthur Treacher's Fish & Chips, Pudgie's Famous Chicken, Wall Street Deli and BurritoVille.
Bernstein said the lessons he's learned acquiring and turning around some of these companies can be applied to Piccadilly.
"The most important thing is: Don't make changes for the sake of making change," he said."Proceed cautiously and get to really know the business before making changes."
Tough times
Piccadilly has closed about 25 money-losing stores this year, and Bernstein said he doesn't expect any more restaurant closures after TruFoods takes over Piccadilly's 145 locations in the Southeast and Mid-Atlantic states.
"If there are (closures), it won't be a great number," he said.
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Bernstein declined to comment on how TruFoods will tackle the sales slump that vexed prior Piccadilly management
"We've faced this challenge before and had success," he said."We're confident we can meet that challenge again with Piccadilly."
Asked what advice he would give to TruFoods, Siddle said the company should keep things friendly, focus on quality and listen to managers and other administrative employees about what customers want.