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PAT & OSCAR'S ANNOUNCES EXPANSION AND CORPORATE RESTRUCTURING PLANS FOR 2007
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New Locations In San Marcos, EastLake Communities
SAN DIEGO – As part of an overall restructuring plan designed to foster aggressive growth in the coming years, Pat & Oscar’s Restaurants (www.patandoscars.com) has announced plans to open two new locations in San Diego, created two new executive management positions and promoted its top leader to chairman and CEO. Former CEO and President John Wright has been named chairman and CEO and two long-time management team members have moved up to newly created COO and Executive Vice President (EVP) slots.
“This restructuring further positions Pat & Oscar’s for growth in 2007 and beyond,” said Wright. “Our current management team has worked diligently over the last three years, and as a result we have enjoyed tremendous success with nine quarters of same store sales increases, completed a successful strategic asset realignment, increased our restaurant margin by 300 basis points, raised customer satisfaction levels to an all-time high and continued culinary advancement through the introduction of a 100% Trans Fat Free menu. The time is right to jump into a more active growth plan,” he added.
When asked about the new locations, Wright could not be more excited. “For the past 15 years, we have had the privilege of offering the best in fresh, quick-service meals to millions of San Diegans,” he said. “Now, we are looking to bring that same Pat & Oscar’s quality to two growing communities in both North County and South Bay,” Wright added.
The company has signed leases for the new restaurants at The Grand Plaza Shopping Center in San Marcos (on the corner of Grand Ave. and Las Posas Road) and The Village Walk at Eastlake (872 Eastlake Parkway Suite 510). Each location will be over 4,000 square feet and offer dine-in and carryout service, along with full catering capabilities.
Pat & Oscar’s plans to open four to six restaurants in the next 12 months in Southern California, and is currently investigating new prototype and footprint choices and franchising possibilities to further spur growth.
To guide the company through this growth process, George Hunter has been named Chief Operating Officer (COO) and Brent Dunkin assumes the post of Executive Vice President and Chief Financial Officer (CFO). Both are long-time Pat & Oscar’s team members that have been an invaluable part of the company’s success and integral to day-to-day management, according to Wright. Hunter previously served as Market Partner for San Diego, and now oversees all restaurant operations, district managers and training functions. Dunkin moves up from his previous CFO post and will manage all finance, accounting, IT, legal, purchasing, property and construction operations.
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About Pat & Oscar's
Founded in 1991, Pat & Oscar's specializes in providing diners excellent value on chicken, ribs, pizza and pasta meals, along with tasty sandwiches, fresh salads and their world-famous breadsticks. Headquartered in San Diego, Pat & Oscar's has locations throughout Southern California. To learn more about Pat & Oscar's, review a menu or download other information, please visit www.patandoscars.com or call 858-695-8500. |
Aimee Cebulski
AIM Communications
(619) 461-8942 or (619) 549-4810 (cell)
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