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SOURCE American Restaurant Concepts, Inc.
Adds Experienced New Franchisee DWG Acquisitions LLC
LAFAYETTE, La., Oct. 30, 2013 /PRNewswire/ -- American Restaurant Concepts, Inc. (OTCBB: ANPZ), operator and franchisor of the award-winning Dick's Wings & Grill® restaurants, announced today that it expects the Dick's Wings® restaurant located in the Nocatee development in Ponte Vedra, FL to reopen in the next five to ten days.
The Dick's Wings restaurant in Ponte Vedra first opened in April 2013, and quickly became one of the Company's highest-grossing restaurants. Due to unforeseen circumstances, the restaurant and the adjacent Yobe Frozen Yogurt® restaurant were closed earlier this month following an unresolved dispute between the former franchisee of the restaurants and the lessor of the plaza in which the restaurants are located. The franchise agreement for the restaurant was subsequently terminated. Within a short period of time, the Company identified DWG Acquisitions LLC, a strong, experienced franchisee, to take over as the new franchisee of the restaurant. DWG Acquisitions became the new franchisee of the Dick's Wingsrestaurant and the Yobe Frozen Yogurt restaurant earlier this week. Both restaurants are expected to reopen by the end of next week.
"We are delighted that our restaurant in the Nocatee development in Ponte Vedra is expected to be up and running again so soon," stated Richard W. Akam, CEO of American Restaurant Concepts. "Our Ponte Vedra location is a beautiful, state-of-the-art facility that has been one of our biggest revenue producers since it first opened its doors to the public earlier this year. We appreciate and value our loyal customers, as well as the dedicated employees whose hard work contributed to the restaurant's success. While the circumstances surrounding its temporary closure were unfortunate, we moved as quickly as possible to address the situation, find a new franchisee, and reopen the restaurant."
Nocatee is a new coastal community in Northeast Florida located in world-renowned Ponte Vedra, just a few minutes away from St. Augustine and Jacksonville. The Company has two Dick's Wings restaurants in the city of St. Augustine. The Nocatee location represents the third restaurant that the Company has opened in the greater St. Johns County area.
About American Restaurant Concepts, Inc.
American Restaurant Concepts, Inc., headquartered in Lafayette, Louisiana, is the operator and franchisor of the Dick's Wings & Grill® full-service restaurants and Dick's Wings Express® express restaurants. The Company prides itself on its award-winning chicken wings, for which it boasts 365 mouth-watering flavors. It offers customers the freshest wings, sandwiches, burgers, wraps, salads and signature waffle fries, all in a unique setting that combines a family-friendly environment with a sports-themed restaurant. The Company currently has 15 full-service restaurants and one express restaurant. For more information, please visit the Company's website at www.dickswingsandgrill.com.
Safe Harbor Provision
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created thereby. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding the Company's future financial position, business strategy, plans and objectives are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expects," "intends," "plans," "projects," "estimates," "anticipates," or "believes" or the negative thereof or any variation thereon or similar terminology or expressions. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from the Company's expectations include, but are not limited to, those factors set forth in the Company's Annual Report on Form 10-K for the year ended December 30, 2012 and its other filings and submissions with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.