UPDATE – Chanticleer Holdings Announces Grand Opening of First Southern California Little Big Burger
February 27 2018 - 10:07AM
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
announced the grand opening of its Little Big Burger (“LBB”),
located in the Starwood owned Parkway Plaza Mall in El Cajon
California. A second location is currently under construction in
Mission Viejo, California with an anticipated April 1st opening.
Both sites are in the San Diego market. Several additional sites
are currently in final lease review.
The franchisee LBBIG LLC, is owned and managed by Larry
Spitcaufsky, an experienced restaurant operator of more than ten
restaurants in the San Diego and Los Angeles markets. Spitcaufsky
also serves on the board of directors of Chanticleer and is
currently a 6% beneficial owner of Chanticleer’s common stock.
Larry Spitcausky stated, “It’s exciting to see our hard work
come to fruition with the opening of our first Southern California
based Little Big Burger. We have a great brand, team and
opportunity. My continuing commitment and belief in the value
proposition of both Chanticleer Holdings and our Little Big Burger
brand is no better evidenced than by not only my sizeable personal
investment in Chanticleer, but also my multi-location commitment
involving the ultimate opening of an additional seven
locations.”
Mike Pruitt, Chairman and Chief Executive Officer of Chanticleer
Holdings, commented, “We are excited to expand Little Big Burger’s
presence on the West Coast with a partner like Larry who is not
only an experienced restaurant owner, but who is also both a board
member, as well as large investor in Chanticleer. We look
forward to cultivating our partnership, focusing on building
shareholder value through introducing our iconic brand to future
additional local communities in Southern California.”
Pruitt continued, “We continue to expect that 2018 has
the potential to be a transformational year for our Company.
Currently we have 12 LBB stores and previously stated that we
expected to add 8-12 new locations in 2018, this location being
included. With our current pipeline, remaining JV
locations and new potential franchise partners we remain confident
we can exceed our previous guidance.”
The Company recently provided an update which may be found here:
Chanticleer Holdings Provides Update for its Little Big Burger and
Burgers Grilled Right Brands
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 Jason AssadPhone
678-570-6791ir@chanticleerholdings.com
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