Clucker's Wood Roasted Chicken Inc. announces acquisition of restaurants, plus new financing and development plans.NORTH MIAMI North Miami, city (1990 pop. 49,998), Dade co., SE Fla., a growing suburb of Miami, on Biscayne Bay; inc. 1926. It is mainly residential, but has considerable retail development. Manufactures include boats, wooden furniture, and aluminum products. , Fla.--(BUSINESS WIRE)--May 1, 1995--Greg Dollarhyde, chairman and chief executive officer of Clucker's Wood Roasted Chicken Inc. - an area developer of Kenny Rogers Roasters Kenny Rogers Roasters is a chicken restaurant that was started in 1991 in the United States by country music musician Kenny Rogers and former Kentucky Fried Chicken owner and original developer John Y. Brown, Jr. The menu was originally centered on wood-fired rotisserie chicken. - announced Monday that Clucker's has negotiated an Agreement to purchase one existing Roasters restaurant in Dade County Dade County can refer to the following places:
Additionally, Dollarhyde discussed a recent financing and the fiscal year 1996 development plans for Cluckers. ``We now have five locations that will be built and opened in the '96 fiscal year - three in Dade County, Fla., and two in Atlanta, Ga. The two newly acquired units will bring the total additional restaurants to seven almost doubling the number of Roasters in operation this year. Based on our current success in Dade County - where our best restaurants significantly exceed the chain average sales - we look for solid results from these new restaurants,'' said Dollarhyde. In addition to the two unit acquisition and the new restaurants under development, Dollarhyde said: ``We have had a very productive fourth quarter for our fiscal year ending on March 26th, and our post-acquisition action plan has increased unit-level cash flow margins by more than 400 basis points from pre-acquisition levels. We have implemented our original plan of stabilizing stabilizing, v to hold a limb motionless in order to ground its energy; a standard isometric resistance technique, it releases tension and lengthens muscle fibers. cash flows in our fourth quarter. Our restaurant-level management has produced results and is committed to continuing to improve unit-level margins and to building operating teams operating team Surgery The participants–surgeons, nurses, etc–in a sterile surgical procedure performed under general–less commonly, local anesthesia for future growth. ``Also, an increasing evidence of the stabilization Stabilization The action undertakes a country when it buys and sells its own currency to protect its exchange value. Actions registered competitive traders undertake by on the NYSE to meet the exchange requirement that 75% of their traded be stabilizing, meaning that sell orders of the company, we have recently secured $1 million of equipment financing from a national leasing company that will be used in new unit developments,'' Dollarhyde said. While stopping short of predicting fourth quarter results, Dollarhyde said: ``Even though not yet profitable, Clucker's can now foresee the day in which the company will be experiencing increasing unit development as well as positive cash flow and profits. The next fiscal year will be critical to our success, and we are doing what it takes to make it a year that completes the turnaround we started in January.'' Clucker's owns and operates 11 restaurants and franchises one restaurant in three states, utilizing a wood-fire rotisserie and serves freshly prepared chicken and side dishes side dish n. A dish served as an accompaniment to the main course. Noun 1. side dish - a dish that is served with, but is subordinate to, a main course entremets, side order for eat-in or take-out Take-out A cash surplus generated by the sale of one block of securities and the purchase of another, e.g., selling a block of bonds at 99 and buying another block at 95. Also, a bid made to a seller of a security that is designed (and generally agreed) to take the seller out of . Roasters Corp. owns approximately 56% of the common stock of Cluckers. CONTACT: Clucker's Wood Roasted Chicken Inc., North Miami Greg Dollarhyde, 305/899-2585 |
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