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Benihana Inc. Updates Development Activity |
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Benihana Inc. (NASDAQ: BNHNA, BNHN), operator of the nation's largest chain of Japanese theme and sushi restaurants, today updated development activity for its Benihana teppanyaki, RA Sushi, and Haru restaurant concepts. |
Benihana Teppanyaki
The Company is scheduled to open a free standing Benihana teppanyaki restaurant in Chandler, AZ in September. The restaurant is located in The Boulevard Shops, a cluster of high-end retail stores alongside the Chandler Fashion Center Mall.
The Company signed a definitive lease agreement for a new Benihana teppanyaki restaurant in Plano, TX. The restaurant will be located in The Shops at Legacy, an urban lifestyle center offering a "Main Street" shopping experience with both retail and entertainment establishments.
The Company signed a definitive lease agreement for a new Benihana teppanyaki restaurant in East Rutherford, NJ. The restaurant will be located in Meadowlands Xanadu, a sports, leisure, family entertainment and shopping destination within the Meadowlands Sports Complex.
The Company signed a definitive lease agreement for a new Benihana teppanyaki restaurant in Coral Springs, FL. The restaurant will be located on University Drive, one of the main thoroughfares in the city, and alongside other restaurants and retail stores.
Remodeled Benihana teppanyaki locations reopened in Fort Lauderdale, FL on June 26, 2007, in Miami Beach, FL on July 12, 2007, and in Burlingame, CA on August 14, 2007.
The Company closed its Benihana teppanyaki location Cherry Hill, NJ on June 25, 2007 for renovation, while the Dallas, TX location began renovations on August 13, 2007 and has closed one section of the restaurant.
The Company completed minor remodels at Benihana teppanyaki locations in New York City and Sacramento, CA without closing the restaurants.
There are currently three additional Benihana teppanyaki restaurants under development in Chicago, IL, Plymouth Meeting, PA, and Dulles, VA. All three of these units will be utilizing the new prototype design.
RA Sushi
The RA Sushi restaurant in Lombard, IL opened on July 9, 2007. The restaurant is located in The Shops on Butterfield at Yorktown Center, which offers upscale shopping and dining options in an open-air environment.
There are currently eight RA Sushi restaurants under development in Mesa, AZ, Huntington Beach, CA, Tustin, CA, Pembroke Pines, FL, South Miami, FL, Baltimore, MD, Houston, TX, and Plano, TX.
Haru
There are currently two Haru restaurants under development in Boston, MA and New York City.
"We are making solid progress in both expanding our restaurant portfolio as well as remodeling our mature teppanyaki units. We look forward to successful openings at each of these locations, which should help solidify our position as the leader in Japanese theme and sushi dining. In fact, the Chandler unit will mark the 100th restaurant either directly owned or franchised by Benihana Inc. We have now also completed twelve Benihana teppanyaki renovations, and remain confident that the investments we are making in our flagship brand is a prudent use of capital, and one that will ensure our market dominance for many years to come," said Joel A. Schwartz, Chairman and CEO.
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