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(PORTLAND, OR) – January 29, 2008 – Fog Cutter Capital Group Inc.'s (OTCBB: FCCG) Fatburger subsidiary announces with sadness the death of its founder, Lovie Yancey, who passed away Saturday, January 26.
“We feel privileged to be part of the culture Lovie created, and we express our sympathies to her family for their tremendous loss,” said Andy Wiederhorn, Chairman of Fatburger. “Lovie Yancey’s vision for a restaurant where families can enjoy delicious food while listening to great music has created lasting memories for many generations. Her legacy is now an international company that has 93 locations, which employs more than 4,000 employees and feeds more than 25,000 guests each day. Fatburger’s success is a testament to her strong will and work ethic.”
In 1947, Yancey opened her first restaurant, “Mr. Fatburger,” with a partner. Five years later she went into sole proprietorship and changed the name to “Fatburger.” When Yancey began Fatburger, she overcame great adversity as a female African-American business owner, reflective of the social conditions in America during the 1950’s.
In 1973, Yancey opened her flagship location on La Cienega in Beverly Hills, drawing the attention of entertainment celebrities. In 1980 she began to grow the business through local franchising of the Fatburger concept and in 1985 her hard work paid off when Fatburger was named in Entrepreneur magazine’s annual Franchise 500 list.
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