AFC Reports Amounts for Write Downs on Coffee Chain

    Industry News | November 11, 2002

    After a last minute delay in reporting period earnings last week due to accounting write offs at its Seattle’s Best Coffee chain, AFC Enterprises (NasdaqNM:AFCE) has reported that it will take $1.5 million in related after-tax charges.

    Reuters is reporting the write-offs to be $1.3 million in inventory write-downs and $200,000 in impairments on improvements to the former Seattle’s Best headquarters building.

    AFC plans to report the charges as part of its third quarter earnings announcement planned for Tuesday.

    News and information presented in this release has not been corroborated by WTWH Media LLC.