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Flat Out Crazy’s two concepts expanding west
Flat Out Crazy Restaurant Group says it plans to build 15 new restaurants by the end of 2011. The Chicago-based company, operator of 28 Stir Crazy Fresh Asian Grill and FlatTop Grill restaurants, says it will finance that growth via $12 million in new loans and equity it's acquired in recent months.
Frederic Mayerson, Flat Out Crazy's chairman and ceo, says that funding “demonstrates the strength of our restaurant brands and the confidence our financial institutions and equity partners have in the company and our team. With the purchase of Stir Crazy at the end of 2006 and then the acquisition of FlatTop Grill in mid-2009, we are a stronger and more profitable entity, which now affords us the opportunity to continue our national expansion.”
The company's expansion plans include a western move into Utah, Colorado, New Mexico, Texas and Nevada, as well as continuing development in the Midwest and East. The company currently has units in Florida, Indiana, Illinois, Michigan, Missouri, Ohio, Wisconsin and New York.
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