Jerry’s Famous Deli Names President

Jerry’s Famous Deli Inc. named Kenneth Abdalla, whose investment firm Waterton Management owns 30% of the Studio City-based restaurant chain, as interim president. He will direct the company’s plan for expansion. The post had been vacant. Waterton is an investment partnership formed by Abdalla and Ron Burkle, chairman of Yucaipa Cos., a closely held company that operates Ralphs and Food 4 Less supermarket chains. “I am very pleased . . . that we will have the assistance of Mr. Abdalla and his colleagues in the Waterton organization who bring invaluable expertise to the table,” said Jerry’s Chairman Isaac Starkman. Last week, Waterton exercised its option to convert $10 million shares of preferred stock into about 3 million common shares outstanding. Jerry’s, meanwhile, reported a fourth-quarter net loss of $4.0 million, or 37 cents per share. Jerry’s Famous Deli operates nine restaurants around Southern California, including five that opened in 1996. A 10th location is due to open in Costa Mesa later this year. Jerry’s shares lost 37.5 cents to close at $3.375 on Nasdaq.