The McCormick amp; Schmick’s Seafood Restaurants chain is looking for a new chief financial officer after announcing late Wednesday that former CFO Emanuel Hilario “ceased to be employed” by the company, effective May 21.

O’Charley’s Inc., operator of 372 casual-dining restaurants under the O’Charley’s, Stoney River Legendary Steaks and Ninety Nine Restaurants chains, said Tuesday that profits for the first quarter fell 31 percent, the result of a continued drop-off in consumer spending.

U.S. chain restaurants are four times more likely to fail in 2009 than they were a year ago, and up to 40 percent of chains could face cash flow problems within the next year, according to a study released Tuesday by business consultant AlixPartners.

CEC Entertainment Inc., parent to the 542-unit Chuck E. Cheese’s chain, said Friday that the affects of and fears surrounding the H1N1 flu, or swine flu, could lead to a 20-percent drop in same-store sales for the first three days of the current week.

Romacorp Inc., parent of the nearly 200-unit Tony Roma’s chain, said Monday that it has promoted Ken Myres to president.

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The Pat & Oscar’s chain, which earlier this year was acquired in a management-led buyout, has promoted three managers to the company’s senior leadership team, officials said Friday.

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The Village Inn and Bakers Square restaurant chains were sold out of bankruptcy to a new owner, American Blue Ribbon Holdings LLC, almost a full year after its former parent company, Vicorp Inc., filed for Chapter 11.

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