Chanticleer Holdings Provides Update for its Little Big Burger and Burgers Grilled Right Brands
July 12 2018 - 8:30AM
Chanticleer Holdings, Inc. (NASDAQ:BURG) (“Chanticleer” or the
“Company”), owner, operator, and franchisor of multiple nationally
recognized restaurant brands with a combined 57 locations in the
U.S. and abroad, today provided a development update on its Little
Big Burger (“LBB”) and Burgers Grilled Right (“BGR”) brands, as
well as affirming that its LBB store count remains on track to
approximately double from last year as previously announced.
2018 Year to date accomplishments
- LBB San Diego #1 (opened Q1)
- LBB San Diego #2 (opened Q2)
- LBB Cornelius / Denny Hamlin joint venture signed
- LBB Austin, TX (opened Q3)
- BGR Catholic University area, Washington, DC (opened Q1)
- BGR Bloomfield, NJ (opened Q1)
- Repurchased BGR Annapolis Q1 / launched online ordering
- Reimaged BGR Bethesda
- Reimaged BGR Tysons Mall
Under construction
- LBB Lake Oswego (Portland)
- LBB Multnomah Village (Portland)
- LBB Capitol Hill (Seattle)
- LBB Wallingford (Seattle)
- LBB Cornelius (North Carolina)
- LBB Rea Farms (Charlotte)
- BGR Reston, (Virginia)
Leases signed awaiting construction permits
LOI Lease pending
- 1 LBB Portland
- 2 LBB San Diego
Mike Pruitt, Chanticleer Chief Executive Officer stated, “We
continue to execute our business plan for our Little Big Burger and
Burgers Grilled Right brands. As of today, we have 15 LBB stores
open and remain confident that our system-wide LBB brand footprint
will approximately double from the beginning of the year with
numerous additional new stores under construction with openings
expected over the balance of the year.”
Pruitt continued, "Anticipated growth continues to be fueled by
the favorable unit economics of both the LBB and BGR better burger
brands. We remain in talks with potential multi-unit franchise
opportunities and are pleased to have just opened our first of LBB
in Austin Texas. As we continue to increase focus on the domestic
burger business, we are continuing to evaluate the sale of our
domestic non-burger and international operations which would
streamline the Company’s operations and significantly increase
operating margins going forward.”
A video about Little Big Burger may be viewed at the following
link:
http://www.chanticleerholdings.com/brands/littlebigburger/
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer Holdings owns,
operates, and franchises fast, casual, and full-service restaurant
brands, including American Burger Company, BGR – Burgers Grilled
Right, Little Big Burger, Just Fresh, and Hooters. For more
information, please visit:
www.chanticleerholdings.com.
About Little Big Burger
Little Big Burger (''LBB'') is a wholly-owned subsidiary of
Chanticleer Holdings, Inc. Founded in Portland, OR in 2010, LBB is
a counter service, fast-casual restaurant concept offering fresh,
high quality cooked-to-order burgers, truffle fries and root beer
floats. LBB has developed a cult-like following in the Pacific
Northwest by offering a simple menu focused on delicious quality,
served in a hip atmosphere. Parties interested in franchise
opportunities should send an email to
mp@chanticleerholdings.com or visit
www.littlebigburger.com.
A video about Little Big Burger may be viewed at the following
link:
http://www.chanticleerholdings.com/brands/littlebigburger/
About Burgers Grilled Right
BGR is helping lead the better burger market with a menu
designed around our commitment to using only the highest quality
ingredients. BGR's menu is designed around burgers grilled over an
open flame. BGR operates stores domestically and internationally,
with franchise opportunities in both markets. For more information,
visit www.bgrtheburgerjoint.com.
About American Burger Company
American Burger Company is a tribute to the American roadside
burger stands of the past. Using quality ingredients and variety
throughout the menu, American Burger Company features
Certified Angus Beef burgers, chicken sandwiches, Philly
cheese steak and salads, along with side items like french fries,
onion rings, mac & cheese, and house-made slaw. For more
information, visit
www.americanburgerco.com.
Forward-Looking Statements:
Any statements that are not historical facts contained in this
release are “forward-looking statements” as that term is defined
under the Private Securities Litigation Reform Act of 1995 (PSLRA),
which statements may be identified by words such as “expects,”
“plans,” “projects,” “will,” “may,” “anticipates,” “believes,”
“should,” “intends,” “estimates,” and other words of similar
meaning. Such forward-looking statements are based on current
expectations, involve known and unknown risks, a reliance on third
parties for information, transactions or orders that may be
cancelled, and other factors that may cause our actual results,
performance or achievements, or developments in our industry, to
differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially from anticipated results include risks and uncertainties
related to the fluctuation of global economic conditions, the
performance of management and our employees, our ability to obtain
financing or required licenses, competition, general economic
conditions and other factors that are detailed in our periodic
reports and on documents we file from time to time with the
Securities and Exchange Commission. The forward-looking statements
contained in this press release speak only as of the date the
statements were made, and the companies do not undertake any
obligation to update forward-looking statements. We intend that all
forward-looking statements be subject to the safe-harbor provisions
of the PSLRA.
Contact Information:
Investor Relations Jason Assad 678-570-6791
Ja@chanticleerholdings.com
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