Prandium, Inc. (OTC Bulletin Board: PDIM), announced plans for the sale of its Hamburger Hamlet chain of restaurants.
Prandium executive vice president of corporate development, Michael Malanga, commented on the planned sale, “Hamburger Hamlet has a strong, loyal customer base and excellent locations. The business is running well and management believes that expansion is an appropriate strategy. However, Prandium does not have the resources at this time to fund the needed growth. The company is considering the possibility of retaining an advisor to facilitate the process.”
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The Hamburger Hamlet chain, acquired by Prandium in October 1998, celebrated its 50th anniversary last October. Today, Hamburger Hamlet is a popular destination for ‘simply marvelous food and drink’ and serves more than three million guests each year in 14 locations throughout Southern California and the Washington, D.C. area. Sales in 2000 were approximately $33 million.
Renowned for its gourmet burgers and signature soups including Lobster Bisque and Onion Soup Fondue, Hamburger Hamlet is a full service restaurant that delivers a tasty alternative within the casual dining segment. Other menu selections include a variety of appetizers, soups and chili, sandwiches, salads, chicken, seafood, pasta dishes, and desserts.
Prandium(TM) operates a portfolio of full-service and fast-casual restaurants including Koo Koo Roo, Hamburger Hamlet(R), and Chi-Chi’s(R). Prandium, Inc. is located at 18831 Von Karman Avenue, Irvine, CA 92612. To contact the company call (949) 757-7900, or the toll-free investor information line at (888) 288-PRAN, or hyperlink to www.hamburgerhamlet.com or www.prandium.com. Address email to invest@prandium.com.
Forward looking statements and comments in this press release are made pursuant to the safe harbor provisions of the Federal securities laws. Such statements relating to, among other things, the successful sale of the Hamburger Hamlet chain, operating results, consumer preferences, tastes and eating habits, demographic trends and traffic patterns, and competition from other restaurants and food service establishments are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These risks are further discussed in the periodic reports and registration statements filed by Prandium, Inc. from time to time with the Securities and Exchange Commission.
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By GlobalDataHamburger Hamlet is a registered trademark of The Hamlet Group, Inc. Other brand or product names are registered trademarks or service marks of their respective holders.
