Black Chandelier Inks Expansion Deal with General Growth Properties
February 01 2007 - 8:00AM
PR Newswire (US)
- Expects to Add $1 Million in Annualized Revenues - SALT LAKE
CITY, Utah, Feb. 1 /PRNewswire-FirstCall/ -- Nexia Holdings, Inc.
(OTC:NEXH) (BULLETIN BOARD: NEXH) , through its wholly owned
subsidiary Gold Fusion Laboratories Inc., announced today its
expansion plans to open its second Black Chandelier retail store
with General Growth Properties (NYSE: GGP); and its fifth Black
Chandelier location. The parties have agreed in principle to open a
Black Chandelier retail location in the GGP-owned and operated
Boise Town Square Mall located in Idaho's state capital of Boise.
The Town Square Mall comprises over one million square feet of
prime retail space, and currently draws over 10 million shoppers
annually. The Black Chandelier store is expected to open in June of
2007. Recent pictures of the company's flagship Black Chandelier
store can be viewed at
http://www.blackchandelier.com/fashionplace.html. Richard Surber,
president of Nexia Holdings, Inc., stated, "We are excited to
pursue the cooperation of General Growth Properties into the
expansion plan of the Black Chandelier label for additional retail
outlets. The opening of this store should add $1 Million in
revenues within its first year of operations. I will be visiting
other GGP properties in the Western United States with Jared Gold
beginning in February to scout for new locations to continue our
retail expansion. Our future plans include having a total of 50
operating Black Chandelier retail outlets by the end of 2011."
"Black Chandelier will join a diverse blend of today's hottest
national and regional merchants in the Town Square Mall. We are
very excited to move quickly with our plans to expand our
innovative Black Chandelier retail concept. Our national reach will
significantly grow from here," commented Jared Gold, founder and
head designer of Black Chandelier. Five major department stores
anchor the Town Square Mall: Macy's, Dillard's, JCPenney, Sears and
Mervyn's. Other stores exclusive to the Mall in the Boise area
include: Pottery Barn, Ann Taylor, Banana Republic, Abercrombie
& Fitch, American Eagle, Cheesecake Factory, Border's and
Talbot's. The Town Square Mall is located at the intersection of
Franklin and Milwaukee off of interstate I-84 and I-184, in the
city of Boise, Idaho. Nexia strongly encourages the public to read
the above information in conjunction with its Form 10-KSB for
December 31, 2005 and for the subsequent quarters during 2006.
Nexia's disclosures can be viewed at http://www.nexiaholdings.com/
and http://www.sec.gov/. This press release contains
forward-looking statements that are based on a number of
assumptions, including the successful completion of the marketing
plans and expansion of Landis operations in a short period of time.
The above statements further assume that Nexia can obtain
sufficient capital to execute expansion plans through outside
investments including but not limited to obtaining significant
leasehold improvements and sufficient lines of credit to fund the
opening of additional Landis locations. Nexia's assumptions are
further contingent upon Landis being able to properly staff its
additional locations. There are no assurances that such assumptions
will prove correct. These forward-looking statements involve a
number of risks and uncertainties, including an expectation of
substantial increase in sales. The actual results that Nexia
Holdings may achieve could differ materially from any forward-
looking statements due to such risks and uncertainties. FOR MORE
INFORMATION, CONTACT: Richard Surber, President 801-575-8073 x 106
Fax: 801-575-8092 or email DATASOURCE: Nexia Holdings, Inc.
CONTACT: Richard Surber, President of Nexia Holdings, Inc.,
+1-801-575-8073 x 106, or fax, +1-801-575-8092, or Web site:
http://www.nexiaholdings.com/
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