"Schlotzsky's facing tough times
7/23/2004 8:26 PM
By: Crestina Chavez
It's a funny name, but its business is no laughing matter.
Austin-based Schlotzsky's Deli faces two lawsuits.
The lawsuits add on to an even tougher month for the food chain.
It's been a tough month for Schlotzsky's. Earlier this month, Schlotzsky's cut 19 corporate positions and reported more than $10 million in losses last year.
The restaurant had to close 11 stores, two board members resigned and now the company faces two lawsuits.
The second lawsuit was filed by former CEO and owner John Wooleys who claims a $2.5 million loan to Schlotzsky's hasn't been paid back."
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