Blimpie International, Inc., has announced it has entered into an agreement with Wal-Mart Stores, Inc., to own and operate BLIMPIE Xpress restaurants in Wal-Mart retail locations across the country.
Blimpie International, Inc., announced that a majority of its shareholders approved the sale of the company to a private investor group, which will purchase all of the company's common stock.
Blimpie International, Inc. (Amex: BLM)
announced today that it has filed preliminary proxy materials with the SEC in connection with a
special meeting of shareholders to be held to consider and vote upon its previously announced
proposed acquisition of the company by a private investor group.
Blimpie International, Inc. (Amex: BLM) and a private investor group have signed a
definitive agreement under which the investor group would purchase all outstanding shares of the company's common stock.
Blimpie International, Inc.,
is selling or closing
seven company-owned restaurants in order to focus on its core businesses of
franchising multiple concepts and providing design and equipment services.
Blimpie announces the second payment of a semi-annual dividend for the
company's fiscal year ending June 30, 2001. The company will pay $.035 per share on April 16, 2001 to shareholders of record at the close of business on April 2, 2001.