New franchise restaurants open in high-profile global markets
California Pizza Kitchen opened three new restaurants in high-profile markets recently, with international renown: Manila, Philippines; Daegu, South Korea; and Salt Lake City. The California Pizza Kitchen (CPK) at The New South Lake City Airport (SLC) was unveiled within an ongoing $4.1B project that just completed its first-phase opening.
The Manila CPK represents the 5th restaurant in that market, while the Daegu unit becomes the 7th in South Korea. All three of the new locations are franchise-operated. The Philippines government recently eased COVID-19 restrictions, paving the way for the opening in Manila at the Evia Mall. At The New SLC, CPK opened in Concourse A West.
[Related article: CPK opens at The New Salt Lake City Airport]
CPK underwent a restructuring process and the latest openings reflect its financial health, the 35-year-old company said in a statement. In the summer, it announced that the company would file a voluntary Chapter 11 and convert much of its debt to equity. In addition, CPK received commitments for a new influx of financing to the tune of $46.8M.
“This has been truly an unprecedented year due to COVID-19 headwinds, but these openings and future construction highlight the confidence we and our partners have in the strength of the brand and its restructuring plan,” said Giorgio Minardi, EVP, Global Development & Franchise Operations at CPK.
The Los Angeles-based casual–dining chain’s California-style pizzas, creative salads, and better-for-you Power Bowls & Cedar Plank Salmon have led to a strong following and 200 locations globally.
Minardi added “We’re very proud to partner with Pie Co. (Manila), Seoulland (South Korea) and HMSHost (SLC) and expand our franchise relationships in these three CPK Markets. It takes a lot of trust, passion and strength during these times to make such an investment and these openings are a clear indication of that commitment.”
Photo credit: California Pizza Kitchen (featured preview image: archive photo)
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