Chicago Pizza & Brewery Inc. Announces Plan to Open 10,000 Square Foot Restaurant and Brewery in Woodland Hills, Calif.MISSION VIEJO Mission Vi·e·jo A community of southern California southeast of Irvine. It is mainly residential. Population: 96,300. , 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 Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. market." Chicago Pizza & Brewery currently owns restaurants in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, ; Boulder, Colo.; and Lahaina, Hawaii Lahaina is the largest town and census-designated place (CDP) in West Maui, Maui County, Hawaii, United States, and the gateway to the famous Kaanapali and Kapalua beach resorts north of town. As of the 2000 Census, the CDP had a resident population of 9,118. , 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 Chicago-style pizza is a specific variety of pizza. Pizza is traditionally considered to be a type of hearth cake such as focaccia. The Chicago-style pizza shares more in common with a casserole, such as lasagna. , as well as sandwiches, salads, fabulous desserts, critically acclaimed ac·claim v. ac·claimed, ac·claim·ing, ac·claims v.tr. 1. To praise enthusiastically and often publicly; applaud. See Synonyms at praise. 2. hand-crafted beers and more. Visit Chicago Pizza & Brewery on the Web at http://www.bjsbrewhouse.com. -0- The information presented herein contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbors Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 re·ne·go·ti·ate tr.v. re·ne·go·ti·at·ed, re·ne·go·ti·at·ing, re·ne·go·ti·ates 1. To negotiate anew. 2. To revise the terms of (a contract) so as to limit or regain excess profits gained by the contractor. the lease on the Woodland Hills site, and (9) other general economic and regulatory conditions. CONTACT: Chicago Pizza & Brewery Inc. Paul Motenko, 949/367-8616, ext. 2 or Brenda Eames, 310/796-0229 |
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