CHARLOTTE, N.C., May 01, 2018 (GLOBE NEWSWIRE) — Chanticleer Holdings, Inc. (NASDAQ:BURG) (“Chanticleer” or the “Company”), owner, operator, and franchisor of multiple nationally recognized restaurant brands with 56 locations in the U.S. and abroad, today provided a development update on its Little Big Burger (“LBB”) and Burgers Grilled Right (“BGR”) brands.
Year to date accomplishments
- LBB San Diego #1 opened
- LBB San Diego #2 opened
- LBB Cornelius / Denny Hamlin joint venture
- BGR Catholic opened
- Repurchased BGR Annapolis / launched online ordering
- Reimaged BGR Bethesda
- Reimaged BGR Tysons Mall
- LBB Lake Oswego (Portland)
- LBB Multnomah Village (Portland)
- LBB Capitol Hill (Seattle)
- LBB Wallingford (Seattle)
- BGR Bloomfield, NJ
- LBB Austin, TX
Leases signed awaiting construction permits
- LBB Green Lake (Seattle)
- LBB Rea Farms (Charlotte)
- BGR Reston, VA
LOI Lease pending
- 1 LBB Portland
- 2 LBB San Diego
Mike Pruitt, Chanticleer Chief Executive Officer stated, “We continue to be pleased at the continuing progress of our national rollout of both our Little Big Burger and Burgers Grilled Right brands. As of today, we have 14 LBB stores and expect to add an additional 6-10 new locations throughout the balance of the year. With our current pipeline, remaining JV locations and new potential franchise partners we remain confident that for 2018, total store count will grow more than 20%. We’re equally pleased to announce that our recently opened Catholic University BGR location has been a top performer since opening. In addition, selective BGR and American Burger Company (“ABC”) stores have experienced record weeks in sales as of late.
Pruitt continued, “Anticipated growth continues to be fueled by the favorable economics of both the LBB and BGR better burger brands and multiple mutually beneficial joint ventures that encompass multi-location agreements, including our newest partnership announced just last week with NASCAR superstar Denny Hamlin. We partnered with Denny to open his first Little Big Burger (“LBB”) store in Cornelius, N.C. The agreement also includes an option for an additional nine potential future locations and was the subject of a recent article in the Charlotte Business Journal.”
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: http://www.chanticleerholdings.com
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.