Buffets’ losses deepen as it seeks Tahoe Joe’s buyer

EAGAN Minn. Buffets Holdings Inc., operator or franchisor of 651 restaurants under the Old Country Buffet, HomeTown Buffet, Ryan’s, Fire Mountain and Tahoe Joe’s Famous Steakhouse brands, recorded a nearly 5-times-larger net loss for the quarter ended Sept. 29, on expenses from its year-ago acquisition of Ryan’s Restaurant Group and higher interest and operating costs.

Buffets reported a net loss of $5.3 million for the first quarter of the company’s fiscal 2008,

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