Chanticleer Holdings Provides Update for its Little Big Burger and Burgers Grilled Right Brands
February 05 2018 - 8:00AM
Chanticleer Holdings, Inc. (NASDAQ:BURG)
(“Chanticleer” or the “Company”), owner, operator, and franchisor
of multiple nationally recognized restaurant brands in the U.S. and
abroad, today provided a development update on its Little Big
Burger (“LBB”) and Burgers Grilled Right (“BGR”) brands.
Pending openings
- BGR Catholic opening in March
- LBB San Diego #1 opening in February
Under construction
- LBB Lake Oswego (Portland)
- LBB Multnomah Village (Portland)
- LBB Capital Hill (Seattle)
- LBB Wallingford (Seattle)
- BGR Bloomfield, NJ
Leases signed awaiting construction permits
- LBB Green Lake (Seattle)
- LBB Rea Farms (Charlotte)
- LBB Austin, TX
- BGR Reston, VA
- LBB San Diego #2
LOI Lease pending
- 1 LBB Charlotte
- 1 LBB Portland
- 2 LBB San Diego
Mike Pruitt, Chanticleer Chief Executive Officer stated, “We
expect 2018 has the potential to be a transformational year for our
Company. We remain pleased at the progress of our continuing
national rollout of both our Little Big Burger and Burgers Grilled
Right brands. Currently we have 12 LBB stores and previously stated
that we expected to add 8-12 new locations in 2018. With our
current pipeline, remaining JV locations and new potential
franchise partners we are confident we can exceed our previous
guidance.”
Pruitt continued, “For 2018 we expect total store count to grow
more than 20% from last year’s total of 57. Importantly, while
still very early and not yet a trend, we are starting to see subtle
early signs of increased consumer spending due to recent tax cuts.
Lastly, an article in Restaurant Business by Jonathan Maze cited a
90% increase in restaurant M&A transactions over the last year.
Clearly this gives us cautious optimism regarding investor interest
picking up in the overall fast casual dining space.”
The value proposition of the Little Big Burger brand is unique
and highly scalable. It is a fast-casual restaurant concept
offering fresh, high quality cooked-to-order burgers operating out
of a small leasehold footprint and leveraging a walk up counter set
up which allows the Company to maximize operational efficiencies,
while reducing operating expenses and typically yielding industry
profit margins in the top 1% of all restaurants. Early indications
of its value proposition can be found in the Company’s previously
disclosed Q3 results indicating early returns on investment of
approximately 60%-90%.
A video about Little Big Burger may be viewed at the following
link:
http://www.chanticleerholdings.com/brands/littlebigburger/
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. LBB now has 12 locations - 11 in the
State of Oregon and one in Charlotte, NC. The Company expects new
locations to open soon in Portland, San Diego, Seattle and Austin.
Parties interested in franchise opportunities should send an email
to mp@chanticleerholdings.com.
About Chanticleer Holdings, Inc.
Headquartered in Charlotte, NC, Chanticleer
Holdings (Traded on Nasdaq under “BURG”), 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: http://www.chanticleerholdings.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 Phone 704.366.5122
ir@chanticleerholdings.com
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