This is a superb choice of location, and something similar to what I was going to call and bug the copany about anyway--now I don't have to. This can draw from Encino, Tarzana, Calabassas, and the restaurant starved northwest San Fernando Valley as well. Actually maybe a smaller branch can find its way to Northridge or Chatsworth, too. Anyway, the Woodland Hills area does have, for example, a Cheesecake Factory where you can never ever get in during prime times without an hur or more wait!!!!!
Chicago Pizza & Brewery Inc. Announces Plan to Open 10,000 Square Foot Restaurant and Brewery in Woodland Hills, Calif
MISSION VIEJO, Calif.--(BUSINESS WIRE)--May 13, 1998--Chicago Pizza & Brewery Inc. (Nasdaq:CHGO) (Nasdaq:CHGOW) Wednesday announced that, continuing with its expansion plans, the company has signed a contingent purchase agreement for a 10,000 square foot restaurant to be converted into the BJ's Pizza Grill & Brewery concept.
Subject to the successful removal of certain contingencies, the restaurant is expected to celebrate its grand opening in the fall of 1998.
Paul Motenko, chief executive officer, stated: "We are very excited to open our new Woodland Hills restaurant and brewery due to its close proximity to the busy Warner Center and its similarity in size to our popular Brea location, which has reached $4 million in revenues.
"We expect that this property will enjoy significant day and night traffic and be an excellent location to allow us to increase our presence in the Los Angeles market."
Chicago Pizza & Brewery currently owns restaurants in Southern California; Boulder, Colo.; and Lahaina, Hawaii, which operate under either the names "BJ's Pizza & Grill" or "BJ's Pizza, Grill & Brewery."
The company also owns Pietro's Pizza locations in Oregon and Washington, several of which have been converted to the popular, upgraded BJ's Pizza restaurant format, while the others await conversion within the next year.
BJ's restaurants offer customers moderate prices and tremendous value on an incredible menu that includes deep-dish, Chicago-style pizza, as well as sandwiches, salads, fabulous desserts, critically acclaimed hand-crafted beers and more. Visit Chicago Pizza & Brewery on the Web at bjsbrewhouse.com. -0-
The information presented herein contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbors created thereby. The company's results may differ significantly from the results indicated by such forward-looking statements. Factors that might cause such differences include, but are not limited to: (1) the company's ability to finance or fund its business plan, (2) the company's ability to manage growth and conversions, (3) construction delays, (4) restaurant and brewery industry competition and other such industry considerations, (5) marketing and other limitations based on the company's historic concentration in Southern California and current concentration in the Northwest, (6) consumer trends, (7) increased food costs and wages, including without limitation, the recent increase in the minimum wage, (8) the company's ability to renegotiate the lease on the Woodland Hills site, and (9) other general economic and regulatory conditions.
--30--MT/la* TJM/la
CONTACT:
Chicago Pizza & Brewery Inc.
Paul Motenko, 949/367-8616, ext. 2
or
Brenda Eames, 310/796-0229
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