CHARLOTTE, N.C., July 12, 2018 (GLOBE NEWSWIRE) -- 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
- LBB Green Lake (Seattle)
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
