Item 2.01. Completion of Acquisition or Disposition of Assets.

On May 16, 2012, Frisch's Restaurants, Inc. (Company) closed on the sale of its Golden Corral restaurant operations to Golden Corral Corporation, from which the Company had previously been granted licenses to operate the 29 restaurants that comprised the assets that were sold in the transaction. The purchase price for the sale was $49.8 million in cash, before adjustments for the proration of real estate taxes and personal property taxes, final inventory amounts, and other closing adjustments.

A copy of the news release announcing the sale is attached as Exhibit 99.1. Unaudited pro forma consolidated financial statements of the Company (to reflect the disposition) with accompanying notes is attached as Exhibit 99.2. A copy of the Assumption And First Amended Asset Purchase Agreement is attached as Exhibit 99.3, and a copy of the Amendment to Assumption And First Amended Asset Purchase Agreement is attached as Exhibit 99.4.

Item 9.01. Financial Statements and Exhibits.

Exhibits

Exhibit 99.1 - News release issued by the Company on May 17, 2012.

Exhibit 99.2 - The unaudited pro forma consolidated balance sheet of the Company as of March 6, 2012 and the Company's unaudited consolidated statements of earnings for the 40 weeks ended March 6, 2012, together with the three fiscal years that ended May 31, 2011, June 1, 2010 and June 2, 2009.

Exhibit 99.3 - Assumption And First Amended Asset Purchase Agreement between the Company and Golden Corral Corporation.

Exhibit 99.4 - Amendment to Assumption And First Amended Asset Purchase Agreement.

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