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Fog Cutter Capital Group Inc.'s Fatburger unit (OTCBB: FCCG) has
announced the purchase of two Fatburger franchise restaurants located
in Pittsburgh and Cranberry, Pennsylvania.
Fatburger purchased the units from Fatburger franchisee John Turcic of J&R Enterprises, LLC and JGT Enterprises Inc. Fatburger will operate the units as Company owned locations. Fatburger plans to open its first Philadelphia area store early next year at Plymouth Meeting Point.
This development comes within days of Fatburger announcing its overseas expansion into Macao at the Venetian® Macao-Resort-Hotel. Fatburger’s international presence will continue to grow with 25 additional locations in China by 2010
Founded in Los Angeles, California in 1952, the Fatburger restaurant chain has 90 restaurants serving big, fresh, 100 percent pure lean beef burgers custom made and grilled right in front of customers in Arizona, California, Colorado, Florida, Georgia, Louisiana, Nevada, New Jersey, New York, Ohio, Pennsylvania, Texas, Virginia, Washington, Canada and Macao. Fatburger currently operates 38 company owned restaurants with franchisees operating the remaining 52 locations. Based in Santa Monica, California, the company is actively seeking new franchisees for available territories across the nation. Fatburger is a subsidiary of Fog Cutter Capital Group Inc. (OTCBB: FCCG). For more information, or to find a Fatburger restaurant near you, go to www.fatburger.com.
Forward Looking Statements
Certain statements contained herein may not be based on historical facts and are “Forward-Looking Statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-Looking Statements are based on various assumptions (some of which are beyond the Company’s control) and may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “may,” “will,” “believe,” “expect,” “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Actual results could differ materially from those set forth in Forward-Looking Statements due to a variety of factors, including, but not limited to the following:
• economic factors, particularly in the market areas in which the Company
operates;
• the financial and securities markets and the availability of and costs
associated with sources of liquidity;
• competitive products and pricing;
• the real estate market;
• the ability to maintain liquidity;
• fiscal and monetary policies of the U.S. Government;
• changes in prevailing interest rates;
• changes in currency exchange rates;
• acquisitions and the integration of acquired businesses;
• performance of retail/consumer markets, including consumer preferences
and concerns;
• effective expansion of the Company’s restaurants in new and existing
markets;
• profitability and success of franchisee restaurants;
• availability of quality real estate locations for restaurant expansion;
• the market for the Company’s products;
• credit risk management; and
• asset/liability management.
Except as may be required by law, the Company does not undertake, and specifically disclaims any obligation, to publicly release the results of any revisions which may be made to any Forward-Looking Statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
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