Koo Koo Roo Hires Investment Advisor

Koo Koo Roo Inc. said it hired F.M. Roberts & Co., a Los Angeles-based investment banking firm, to advise the restaurant chain on financing, mergers and acquisitions and how best to improve its stock value. The Los Angeles-based restaurant company has never reported a profitable quarter and its shares are nearing a 52-week low. The company has 27 restaurants that offer mainly chicken dishes and 10 Color Me Mine ceramic studios in California. Shares in the restaurant company fell 6.25 cents to close at $7.125 in Nasdaq trading. The stock hit a 52-week high of $10 in May. In November, Koo Koo Roo said its loss widened for the quarter ended Sept. 30 to $2.5 million, or 19 cents a share after payment of preferred dividends, from $1.2 million, or 9 cents, in the year-earlier quarter.