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Red Robin Gourmet Burgers has warned securities regulators of substantial doubt about the casual-dining operations ability to meet the equity requirements of its revised credit facility and could default as a resultputting its status as a going concern at risk.
In a Securities and Exchange Commission filing, Red Robin revealed that it had negotiated a number of concessions from its lenders to avoid default on its credit facility. But they are predicated on the company raising at least $25 million through the offering of additional equity.
The company is actively evaluating options for raising equity capital in order to satisfy the requirements of the amendment, Red Robin said in the filing, referring to the revised agreement. Because the equity raise is outside of managements control, substantial doubt exists surrounding the companys ability to meet its obligations within one year from the financial statement issuance date and to continue as a going concern.
The filing came hours before the company filed a prospectus for a shelf offering of up to $75 million in various financial products, including common and preferred stock.
Red Robin attributed its financial difficulties to the effect of the COVID-19 pandemic, noting that 35 restaurants have temporarily closed and the remaining 414 company-operated branches have been limited to takeout and delivery for much of the second quarter. Even with off-premise sales increasing threefold, comparable sales for the week ended May 24 were on average still 47.1% below the level of a year ago, at $30,751 per store, Red Robin said in a business update issued on Friday.
Same-store sales for the 158 restaurants that had partially reopened their dining rooms fared better, with a decline of 31.9% for the week ended May 24.
The company franchises about 120 restaurants in addition to the ones it operates.
Red Robin had been pursuing a new turnaround strategy when the pandemic upended the restaurant industry in March and April. A key component, a new service model called the Total Guest Experience, is being incorporated into every dining room as it reopens, the company said. It did not reveal what operational changes will be adopted.
Another provision of the turnaround strategy was the addition of Donatos-brand pizza by Red Robin units. Because the addition of that product required a capital outlay for new ovens, management opted to suspend the rollout.
In addition, the chain cut its menu by roughly a third to quicken delivery and takeout service and reflect reductions in unit personnel.
In Mondays securities filing, Red Robin noted that it stopped paying full rents as of April for company restaurants and the chains headquarters building.
It also noted that it would delay the release of final first-quarter sales figures.
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Red Robin warns of a struggle to stay in business - Restaurant Business Online
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Description: Malibu Park, bluff side gem. This beautiful, newly renovated home harmoniously captures the ultimate in Malibu lifestyle and relaxation. Rarely available, with stunning whitewater, coastal, sunset and mountain views nestled on a unique and quiet cul-de-sac street with underground utilities. Bright, light and airy open plan layout with ample skylights and over-sized windows that beautifully frame in the vista views and lead to multiple outdoor spaces with a patio, decks, swim spa, fire pit, outdoor shower and grassy areas. Three bedrooms, two full baths; 1,664 square feet on a 7,949-square-foot lot. Extensive upgrades include white modern kitchen and baths with custom designed cabinets, island unit, Carrara marble countertops, high-end designer finishes, fixtures, appliances and wood burning fireplace. The eco-friendly swim spa connects to a fire suppression system with rooftop sprinklers, heat sensing cameras and a large Generac 11kw backup generator, all state of the art and wifi enabled. Enjoy a short stroll down the backyard path and under the bridge (to avoid crossing PCH) and arrive at the surf and sand of Zuma/Malibu West beach or cruise to the Trancas Country Market boutique shopping center, empty hiking and equestrian trails or Malibus award winning schools all without getting into your car. Want to increase square footage? There are rudimentary floor plans available upon request that meet current setback and maximum square footage requirements for a well-planned and cost effective second story bonus room addition with balconies and full whitewater and sunset views.
Asking Price: $3,250,000.
Listing Agent: Shen Shulz (DRE# 1327630), Sothebys International Realty. For more information, call (310) 980-8809 or click here.
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Home of the Week: 6409 Surfside Way - The Malibu Surfside News
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By the time the 2019 season ended, the Jacksonville Jaguars had started six different linebackers. Defensive coordinator Todd Wash was one more injury away from needing to put out a community casting call. Now as the team prepares for the 2020 season, the linebacker unit has been replenished and the assembled room has the sense of being right there; right on the cusp of being complete but with the requisite cautious optimism, not wanting to assume anything just yet.
Of the six that started games last season, only Myles Jack, Quincy Williams and Leon Jacobs are still on the roster. All three should be significant contributors again this fall. But barring injuries, there is a clearer pecking order on the big board.
The biggest change to the linebacker room came in the form of Joe Schobert. The former Cleveland Browns is entering his fifth NFL season as the owner of the fourth most tackles (378) in the NFL over the past four years. He was brought in with a clear purposeto start at middle linebacker. The move is significant enough purely talent wise. He finished 2019 in the Top 10 league wide for total tackles with 133 and his four interceptions last season were second amongst all linebackers.
When the Jaguars began talks with Schobert, they outlined what they wanted in a new addition and what they felt he could bring, explains Schobert.
They want to bring in proven players who have played in the NFL before and proven theyve belonged and also guys thatll be good, leadership role models in the locker room. Level-headed, steady voices.
But adding Schobert also has a ripple effect beyond just the middle of the field. Anchoring him there means Myles Jack can move back outside, this time to weak side linebacker. The shuffling could be seen as an effect of adding Schobert or maybe even the need to do so in the first place. Schobert told reporters when he first signed, its a good bit of the latter.
My goal for me coming in here is to just take things off of the plate, being able to set the defenses, make the calls, make the checks and their adjustments and let Myles just go be an athlete out there and wreck the game which he has the ability to when he doesnt have to be caught up in trying to get other people lined up and be responsible for all that communication.
Myles Jack has all the potential to be the star linebacker he was always projected to be; it could even be argued hes already started to make the case with his 287 tackles, five and a half sacks, two interceptions, 10 passes defended and a forced fumble and recovery. Ergo, it makes sense to bring in new faces and move pieces around to play him in the best possible spot. This will be the first season however that features him at WILL.
While Schobert at MIKE and Jack at WILL are all but set in stone, there is potential for a competitive battle at SAM (strong side linebacker) during camp and pre-season. As mentioned above, this was the spot most often held by Leon Jacobs in 2019. The only games in which he didnt start, the defense didnt start a SAM linebacker for the game. He finished with 42 tackles, two sacks and one pass defended.
Wash and Head Coach Doug Marrone have mentioned several times this offseason the plan to switch to more 3-4 defensive looks in the future. They brought in new personnel to help with the move, two of them being Cassius Marsh from the Arizona Cardinals and KLavon Chaisson in the first round (20th overall) in the 2020 NFL Draft.
Marsh however revealed to reporters last week that both he and Chaisson have been meeting (virtually) with the strong side linebackers.
Ill be playing the SAM, said Marsh, and Im going to work my hardest to compete and hopefully earn a starting job at the SAM position and bring my best every day. I think it is a great opportunity and it is a great defense. I am looking forward to the challenge.
On Chaisson, Marsh added, Just a smart guy. He seems real focused. Hes not saying too much. Nothing that comes out of his mouth is a waste of words. Hes only been in a couple of meetings because he just got drafted not too long ago, but from what Ive experienced, hes a mature, young man and I look forward to getting to know him better.
Both Marsh and Chaisson are hybrid linebacker/defensive ends which means they can also move up to the BUCK role for certain plays (Josh Allen will likely be the first tapped). If they are called to do so, Jacobs can still come in to play the SAM.
This means the Jags are potentially three deep at the SAM. Aaron Lynch, last with the Chicago Bears, can also drop back as an outside linebacker on situational plays. With the new additions, Jacksonville is at least two deep across the entire corps. Quincy Williams started eight games at WILL the 2019 season and should be available behind Jack.
And at MIKE, the Jags newly minted rookie Shaq Quarterman brings an old school downhill style now with the chance to learn behind the veteran Schobert.
If the Jacksonville Jaguars can make it an entire season with at least two-thirds of their linebacker corps intact, it will be an improvement over last fall. In anticipation of the development, theyve shuffled and stacked their unit with the balance of veteran presence and rookie talent to give encouraging depth across the board.
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The State of the Jaguars Linebacker Room - Sports Illustrated
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The University of the Cumberlands has announced that in-seat undergraduate tuition and room and board will remain the same for the upcoming academic year.
The announcement comes as the University continues working to make a quality education accessible for students from all backgrounds. In addition to offering one of the lowest tuition rates in Kentucky at $9,875 per year, Cumberlands is offering free textbooks for all in-seat undergraduate students starting this fall, according to a UC release.
The school also recently announced that prospective students are no longer required to take the ACT or SAT to apply for admission. The application process remains simple and is available at ucumberlands.edu/apply.
When the University announced it was reducing tuition by 57 percent in September 2018, it was impossible to predict that a global pandemic would hit two years later, disrupting the finances of higher education institutions and students around the world. Though Cumberlands, like every institution, has been affected by the coronavirus pandemic, its financial team is working to ensure that students are impacted as little as possible. One way to do that is to keep tuition rates stable, the release noted.
Besides that, to Univeristy of the Cumberlands President Dr. Larry Cockrum, a promise is a promise, the release stated.
When I announced that we were cutting tuition by 57 percent, I promised students and families that we would do our best to keep our education affordable, said Cockrum. These last few months have brought many unexpected challenges. But we remain committed to our students, one hundred percent. By maintaining our tuition pricing, we hope to provide some stability in these highly uncertain times.
Quentin Young, Chief Financial Officer, said the University has been working overtime to meet the needs of students.
We are thankful to be in a financial position to maintain tuition for the upcoming year, said Young. Many families are experiencing financial hardships as a result of the coronavirus pandemic. We recognize the challenge this presents for prospective college students as they look at the coming semester and wonder, Can I afford it? We hope maintaining our current tuition and room and board rates helps them answer yes with confidence.
University officials are currently making plans regarding summer orientation and preparing campus for student to return to class this fall.
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Cumberlands keeps tuition, room and board flat for 2020/21 The News Journal - The News Journal
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Aimed at resuming production safely amid COVID-19, the 22-page document offers recommendations such as "minimiz[ing] scenes with close contact between performers" possibly by revising scripts or use of digital effects.
With the aim of getting the entertainment industry back to work safely amid the threat of COVID-19, the Industry-Wide Labor-Management Safety Committee Task Force whose members include AMPTP, SAG-AFTRA, the Directors Guild, IATSE and the Teamsters submitted on Monday a white paperto California Governor Gavin Newsom and New York Governor Andrew Cuomo, as well as to governments across the country.
This 22-page document offers recommended protocols on how to restart production while minimizing the risk of spreading COVID-19 effectively giving stakeholders a glimpse at what coronavirus-era production could look like.
Per the general recommendations, all cast and crew should be tested as a condition of employment and should follow protocols in areas such as daily symptom monitoring, social distancing, the use of personal protective equipment and hand hygiene. The task force calls for staggered meal times to avoid large groups and the elimination of buffet-style meals. It instead urges the use of individually wrapped meals and snacks and individually wrapped, disposable utensils.
The white paper introduces the role of an autonomous COVID-19 compliance officer, who would oversee testing, physical distancing, disinfecting and all safety protocols related to COVID-19 on a set.
As to how work is conducted, the document encourages remote meetings whenever possible, as well as the use of technology for remote viewing of video.
It also urges the use of virtual writers rooms. The WGA wasn't a member of the task force, but the WGAW said in a statement provided to The Hollywood Reporter, "The AMPTP white paper recommends that writers' rooms should be virtual whenever possible. We agree this is the best protocol for now. We will carefully scrutinize any plans to reopen room and will talk with studios if those plans raise member health and safety concerns."
Also in the white paper, measures to "minimize scenes with close contact between performers" might include revising scripts or use of digital effects. Specifically, suggestions include minimizing crowd and street-set scenes (and, relatedly, discouraging live audiences). Also expect shooting schedules that would limit back and forth travel (and minimize travel altogether).
For cast and crew that work in close proximity (for instance, actors, hair stylists and make-up artists) additional testing, contact tracing and task-specific controls are recommended. Protocols might include control of the entrants to trailers and allowing sufficient work time to follow safety guidelines; details are still being worked out.
In addition to the aforementioned organizations, the preparation of the white paper included the participation of the major studios as well as companies such as Amazon Studios, HBO and Netflix, in addition to health experts. The task force is continuing its work to complete a more detailed "phase two" while paper. It also stated a need for department-specific measures that will continue to be discussed and developed among the impacted unions and guilds.
DGA president Thomas Schlamme and national executive director Russell Hollander on Monday sent a letter to its members, outlining the initiatives. "These are incredibly complex issues to solve, the science is still rapidly developing, and its all being done amid a world changing at breakneck speeds," they wrote. "Through it all, what drives us is getting this right for our members, other industry workers and the general public, so a quick, safe and sustainable return to work can be realized."
They added, "The road back is finally taking shape, and we remain optimistic. We appreciate the need to get back to work and know that the timing is exceedingly important; getting it right is mandatory," they conclude, adding acknowledgement of "the pain and anguish we are all feeling right now in the wake of the killing of George Floyd and the ongoing social injustice in our nation. Theres more we plan to say about that very soon."
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Industry Task Force Submits Production Health Guidelines to State Governments - Hollywood Reporter
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Looking for the best tent for you? You've come to the right place The North Face Homestead Super Dome 4 could be just that tent. We say that, not even knowing who you are or what you're looking for, because this is such a great all-rounder it will almost certainly suit most needs. It's a bold statement, so allow us to back that up.
The point of the Homestead collection from The North Face is to combine rugged outdoors experience with luxurious comforts of space and quality. The result is a really good looking tent that will stand out in a good way at a campsite but will also work technically well to keep you comfortable, no matter where you end up in the wild.
The North Face Homestead Super Dome 4 is all about offering lots of room enough for a queen sized bed while also packing down for ultimate portability. The result is a one-hand-carry style tent that grows tall enough to near stand up straight in.
Packs down small enough to carry with one hand
(Image credit: North Face)
The North Face Homestead Super Dome 4 is, as the name suggests enough for four people to sleep in at once, or two with comfort and room for bags. Despite the 56 square feet of floor space and dome shape for standing height, this packs down to a 30 x 68 cm sack weighing in at 6 kg.
The duffel bag that you can carry the tent in means its super easy to pack away and transport. It'll also match the colour of the tent so looks good too.
(Image credit: North Face)
There's a breathable double wall of insulation that's made with polyester and features a 1500Mm PU coating meaning you don't need to worry about rain or any moisture for that matter getting inside the tent.
The addition of a large mesh ceiling is a great touch that means you can lie back at night and enjoy star gazing, or relax in the day while staying protected from any bugs.
The North Face's lifetime warranty offers extra peace of mind
(Image credit: North Face)
Large storage pockets and a front vestibule give you plenty of room to store your things and if you want to get any of that dried out you can use the internal drying line that comes included. As you'd expect from The North Face the build quality is great but that's also backed up with a lifetime warranty so you may never need to buy another tent again.
Today's best The North Face Homestead Super Dome 4 deals
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North Face Homestead Super Dome 4 is a massive tent that packs down tiny - T3 (Australia)
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If you are looking for a cooling device that is space-saving and stylish, then a portable tower air cooler is what exactly you need. Taking up less room than all other types of fans, tower fans are great when you have a limited amount of space. These fans are elegant and attractive, and even enhances the balance of a room without disrupting the aesthetics of your home decor. The list here has a number of efficient tower air coolers available in the market:'; var randomNumber = Math.random(); var isIndia = (window.geoinfo && window.geoinfo.CountryCode === 'IN') && (window.location.href.indexOf('outsideindia') === -1 ); //console.log(isIndia && randomNumber From the house of Symphony - one of the most trusted names in among the air cooler brands, this 35-litre air cooler has cool flow dispenser that ensures superior cooling. This symphony air cooler is designed to use less electric power as it runs on an operating cost of a fan. To show the water level in the cooler, it has a water level indicator that informs you about the tanks status so that you can refill it in time. Besides, it is equipped with a cool flow dispenser which distributes water evenly for better cooling. The water pump of the cooler works on dura-pump technology which ensures its longevity. Due to its sleek and impressive design, the Voltas Tower Cooler can fit anywhere in your house and offer you soothing air. It has a powerful air throw that assures you long-lasting cooling irrespective of the weather outside. Providing cooling relief with minimal noise, disturbance, or space consumption, the tower cooler from Voltas works effectively to circulate airflow for a comfortable home environment. The air cooler is an excellent choice for rooms of medium size and it consumes less energy, making it a pocket-friendly choice. To ensure powerful cooling, the Orient Electric Supercool Air Cooler has ergonomically designed fans and blowers with a unique angle that enables maximum air throw. In addition to that, it has honeycomb pads that ensure powerful and quick cooling. This energy-efficient device consumes very low power, is inverter-compatible, and has pump motors that ensure uninterrupted cooling without incurring high electricity bills. It has an aesthetically designed panel with a timer function and facilitates remote control operation to give you an easy and hassle-free experience. This Bajaj Air cooler ensures higher air delivery to cool any space in your house and enhances your overall cooling experience. The home appliance is ergonomically designed for cooling media and has a hexagonal pattern that delivers maximum cooling with minimum water consumption. It features a large 22-litres water tank that ensures longer cooling with a continuous water supply system. For better handling and comfort, the air cooler has a remote control that offers easy and convenient control of cooler functions such as speed change, on/off pump and swing from a distance. The Blue Star 35-Litre Tower Air Cooler is an ideal solution to fight biting heat. The Ultra Violet Protection Coat on the air cooler body protects it from direct sunlight, making sure the air it produces cool and pleasant. To ensure complete safety, the air cooler comes fitted with mosquito/dust filter that enters inside the cooler to enhance the life of the Air Cooler. It is embedded with an ice chamber facility so that the user can pour ice cubes to boost the cooling experience. Its cross-fit technology assures maximum utilization of water for improved speed and efficiency of cooling.DISCLAIMER: The Times of India's journalists were not involved in the production of this article.
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Tower Air Coolers that are portable and can fit in any room - Times of India
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VDL buses, with a built-in laboratory, are used in a study into the spread of the coronavirus by the Robert Koch Institute in Germany.
The so-called Medibuses are built for Deutsche Bahn and are used to test 8000 people spread over four areas. The aim of the research is to map the distribution of the corona virus and the number of unreported corona cases.
The Citea LLE-127, which was built by VDL Bus & Coach, is used for the research. The bus has been converted into a medical practice on wheels. The bus contains four rooms: a treatment room, a doctors office, a laboratory and a waiting room. In addition, each room has air conditioning and solar panels on the roof so that the vehicle can be used anywhere.
ResearchGermans can voluntarily participate in the study. A corona test is administered to participants. Blood is also taken and participants are asked about their medical history and social contacts.
Source: Studio040
Translator: Dirk
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VDL buses used in coronavirus research - Eindhoven News
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As weve been living more closely with families and house mates through COVID-19, the more intensive ways weve used our houses has perhaps exposed some of their shortcomings. Households have had relative freedom to interact with each other, but the continual presence of our household has also made us wish part of our house could somehow partition itself into another house a second house where we might retreat.
Having to work and school from home has highlighted the need for the spaces we share to be more flexible. Occasionally, we need to be able to separate home spaces from each other. Weve perhaps opportunistically repurposed furniture, made makeshift rooms and stuffed blankets under locked doors in an attempt to renegotiate territories within our house.
Read more: We need more flexible housing for 21st-century lives
But working in a home office or studio, finding independence as families grow and age, or being able to accommodate extended family and friends, are also usual ways we live in houses. Having a second smaller house, within or attached to the main house, would allow these ways of living to happen in happier ways.
A small house can be designed to feel more spacious than its small floor area suggests. They can make good use of gardens, courtyards and leftover space around a house; use furniture and storage walls to make a small room more usable; use well-designed windows to provide natural light, ventilation and views; and use the volume within a roof for light and a sense of space.
Some larger houses might already be organised well enough to effectively have a second house within them. But, in the context of regulatory approvals, this is where it begins to get tricky.
Separate to the ways we might use our home, a house is also defined through legislation.
Depending on where you live in Australia, it will be defined in subtly different ways. In New South Wales, a house is simply a room, or series of rooms, capable of being used as a home.
While not describing what those rooms might be used for, case law suggests a house needs to at least maintain the facilities of a bathroom, a kitchen and a place to sleep. If these rooms were able to gain independent access to the street, they would then meet the legislative definition of a house.
Read more: Flatting in retirement: how to provide suitable and affordable housing for ageing people
However, to be approved as a second house it would also need to comply with other legislative and planning policies. These requirements can be complex and layered, as they interact with other codes, but its the lot size of your property that will have the greatest effect on whether youre allowed to have a second house.
If you want to avoid the discretion of your local council assessing a development application that is outside minimum planning requirements, your house (at least in NSW), will need to sit on more than 450 square metres of land. Thats substantially more than both most inner-city lots and newly released greenfield lots in Australia. That second house might be further away than youd thought.
Read more: Tiny houses: the big idea that could take some heat out of the housing crisis
The flexibility for individual land owners to determine how their household lives within their house, and how they might contribute to making houses more affordable, has been given over to those who already own relatively large blocks of land. Those with smaller, more affordable lots are effectively prevented from leveraging the potential of their house as this type of asset. Those with more to spend on housing also stand to gain the most.
Having more houses in places where we want to live, and in ways that maintain the character of those places, are critical ways of sustaining communities. The small size (20-50 square metres) of a second house often has little impact on the appearance of a house. And because theyre accommodating an existing household, they also have little impact on car parking.
Read more: Size does matter: Australia's addiction to big houses is blowing the energy budget
Rooms within houses can be made to work harder for the families they hold, while the often wasted open space down the side of a house can be activated as courtyards and bathrooms. As a second house is on the same land title as the primary house, it cant be sold as a separate house like a duplex might it isnt a commodity in itself. This positions the second house as a fundamental way of affordably meeting multiple needs:
the lack of houses in urban areas at street level
ageing in place
social cohesion
the confidence Australians should have in well-designed small houses.
Read more: From 8 to 80: designing adaptive spaces for an ageing population
As we begin to move out of our pandemic-related home-stays, perhaps the ways weve been intensively using our houses will linger a bit longer. And perhaps well be in a better position to more seriously ask our house how it might also become a second.
The broader question, of course, is for our various levels of government: why not allow small houses on small lots to help with the housing affordability crisis?
Read more: Affordable housing shortfall leaves 1.3m households in need and rising study
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Life in lockdown has shown us our houses need to work harder for us - The Conversation AU
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A Site Plan Application submitted to the City of Toronto in mid-May seeks to add a modern expansion behind an early 20th century converted homecurrently housing commercial spaceon Yonge Street, just north of Rosedale subway station. TheDewson Architects-designed proposal at 1067 Yonge Street would create an expanded footprint for the owner and developer behind the proposal,Dancap Realty Inc.
Looking east to 1067 Yonge, image via submission to City of Toronto
The application calls for a new four-storey mass timber structure with a gross floor area of 1437.4m, and a height of 16.5 m to rise behind the existing 1914-built, three-storey house-form building. The heritage building facing Yonge Street is set to undergo an extensive restoration overseen by ERA Architects as part of the plan, while the new building behind would replace an existing 1950-built three-storey addition.
Looking northeast over 1067 Yonge, image via submission to City of Toronto
The restored house and expansion are aiming to exceed Toronto Green Standards, striving for'Passivehouse' standards as targets. This would be accomplished with a mix of efficiency measures including aa high-performance building envelope with solar fins, a geothermal field, and a rooftop solar photovoltaic array.
Plans for the retained building on Yonge include a full roof reconstruction, the restoration of exterior brick finishes, the replacement of vinyl window frames with wood, rebuilt dormers, and the replacement or refurbishment of all exterior shutters. A few of the windows less integral to the overall design would be infilled with reclaimed brick, while other sections of facades would be opened up to create skylights. Below the existing building, structural underpinning is proposed to support a deepening of the current basement level.
The rear addition would include two underground garage levels topped by three floors of office, meeting room, kitchen, and flex space. A fourth floor is planned to include a gym and yoga studio for office workers.
Looking southeast over 1067 Yonge, image via submission to City of Toronto
The new structure's north, south, and west elevations are proposed to be clad largely in black metal panels in brick-shaped and diamond patterns. A randomized pattern of large geometric reveals in curtainwall glazing would add visual interest to the primary west elevation, while the north and south elevations are planned mostly without windows, the expansion abutting the structure to the north. The addition's east elevation, overlooking an open-cut section of the Yonge subway, would be finished largely in curtainwall glazing along with vertical solar fins, and a frame of the same metal panels proposed on the other three elevations.
Looking west to 1067 Yonge, image via submission to City of Toronto
You can learn more from our Database file for the project, linked below. If you'd like to, you can join in on the conversation in the associated Project Forum thread, or leave a comment in the space provided on this page.
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Mass Timber Rear Expansion Proposed at 1067 Yonge in Rosedale - Urban Toronto
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