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  • Chanticleer Holdings, Inc. (HOTR) Positioned To Expand International Presence, Backed By Experienced Management 0 comments
    Jun 12, 2013 3:21 PM | about stocks: HOTR

    Chanticleer Holdings was formed in 2005 as a business development company, transitioning into a holding company in 2008. A personal relationship between Chanticleer CEO Mike Pruitt and Hooters of America (HOA) founder Robert Brooks ultimately led to Chanticleer's acquisition of HOA in 2011. Today, the company is the operator and franchiser of more than 412 Hooters® restaurants in 28 countries.

    With locations in North America, South Africa, Europe, and Australia, HOTR has developed a roll-out plan to extend tap additional emerging markets in each of those regions as well as make an entrance into the market in Brazil.

    Guiding this initiative, CEO Pruitt is joined by Alex Hemingway, director of Chanticleer Europe. Hemingway has domestic and international executive management experience with a resume including his role as CEO of Central European Franchise Group, the owner and operator of Pizza Hut and Kentucky Fried Chicken brands in Hungary.

    Eric Lederer, HOTR's CFO, has worked with the company since 2011. He previously served as controller of PokerTek, Inc. (NASDAQ:PTEK), a licensed gaming company where he was responsible for accounting functions and SEC filings.

    Amber Harrison, corporate counsel, joined HOTR in November 2012. Her experience includes federal law, torts, contract disputes, employment law, complex business litigation, contract law, anti-trust, mergers & acquisitions, and corporate law.

    Accountant and corporate secretary Michelle Aridiacono has been with HOTR since 2008. She previously worked as an accounting manager for a real estate business development company and was staff accountant for a local CPA firm where she specialized in corporate taxation.

    As HOTR moves forward with its goal to have 10 restaurants opened by year-end 2013, the company notes strength in strong same-store driven by the positive effects of restaurant remodeling, customer loyalty, and an expanded menu that attracts more health-conscious consumers.

    Restaurant revenue for Q1 2013 increased 18.4% to $1.7 million, compared with $1.4 million in the first quarter 2012. As of March 31, 2013, the company had six restaurants compared with five restaurants at the end of Q1 2012.

    In its Q1 earnings release the company announced that it had selected a site in Townsville, Australia, for its seventh Hooters restaurant, and the approval of a site by HOA in Surfers Paradise, Australia, which will mark its eighth location. HOTR anticipates opening the Townsville restaurant in Q3 2013.

    For more information, visit www.chanticleerholdings.com

    Please see disclaimer on the MissionIR website

    Stocks: HOTR
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