CHARLOTTE, N.C., Feb. 05, 2018 (GLOBE NEWSWIRE) --
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