P. F. Chang's China Bistro

P.F. Chang's Inc.
Private
Industry Restaurant
Genre Casual dining
Founded 1993 (1993)
Scottsdale, Arizona, U.S.
Founder Paul Fleming
Philip Chiang
Headquarters 7676 E. Pinnacle Peak Road
Scottsdale, Arizona, U.S. 85255
Number of locations
 204 (2012)
Area served
 Worldwide
Key people
 Richard L. Federico
(CEO/Chairman of P.F. Chang’s China Bistro, Inc.)
Products Asian American cuisine
Owner Centerbridge Partners
Website pfchangs.com
Footnotes / references
[1][2]

P. F. Chang's is an Asian-themed US casual dining restaurant chain owned and operated by Centerbridge Partners and headquartered in Scottsdale, Arizona. As of October 2014, P. F. Chang's operated 204 restaurants in the United States and 56 in international markets under licensee agreements. Countries include Canada, Puerto Rico, Mexico, Argentina, Chile, Brazil, Colombia, Costa Rica, Panama, Turkey, Lebanon, Philippines and the Middle East.[3] It is the largest full service, casual dining Chinese restaurant chain in the United States with locations across the country.

"P. F. Chang's" is the namesake of Paul Fleming (P. F.) and Philip Chiang (whose surname is shortened to Chang).[4]

History

A P.F. Chang's at Stamford Town Center, Connecticut.

The chain was founded in 1993 by Paul Fleming and Philip Chiang. The first restaurant was opened at the Scottsdale Fashion Square in Scottsdale, Arizona.[4] In 1993, P.F. Chang's China Bistro, Inc. was formed from the acquisition of the original four bistro restaurants.[1] On July 2, 2012 Centerbridge Partners completed the purchase of P.F. Changs China Bistro and the company is no longer publicly held.

In 2010, "P.F. Chang's Home Menu" was introduced. The brand represents a group of frozen appetizers and meals that are sold under license by Unilever.[5]

ConAgra Foods, Inc. acquired the P.F. Chang's Home Menu license from Unilever in August 2012.

2004: Restatement

On March 15, 2004, the company reported that it had modified its partnership accounting, which resulted in a restatement of its financial results for prior years.[6] On March 17, 2005, the company was to adjust its accounting for leases in order to conform with U.S. generally accepted accounting principles. Accordingly, management and the audit committee determined that the company's previously issued consolidated financial statements, including those in the company's Annual Report on Form 10-K for the fiscal year ended Dec. 28, 2003, and those in the company's Quarterly Reports on Form 10-Q for the first three fiscal quarters of 2004, should no longer be relied upon.[7]

2014: Data security breach

On June 10, 2014 the United States Secret Service alerted P.F. Chang's about a possible security breach involving credit and debit card data possibly stolen from as many as 33 P.F. Chang's China restaurants located in the continental United States. P.F. Chang's is offering its customers who have used credit or debit cards in-store in the previous eight months a free “fraud alert” with their bank.

Menu

A P.F. Chang's location in Columbia, Maryland.

The chain specializes in American Chinese cuisine. Wine, specialty drinks, Asian beers, sake, cappuccino and espresso are available outside standard beverage offerings.[1]

P. F. Chang's also offers gluten-free options and has been recognized for this by the Gluten Intolerance Group of North America.[8]

See also

References

  1. 1 2 3 P.F. Chang’s China Bistro, Inc. (January 1, 2012). "FY 2011 10-K". U.S. Securities and Exchange Commission. Retrieved May 17, 2012.
  2. ↑ "Chef's Corner, Recipes and Tutorials". P.F. Chang's China Bistro, Inc. 2010. Retrieved May 17, 2012.
  3. ↑ http://www.pfchangs.com/locations/International.aspx
  4. 1 2 "FAQs". P.F. Chang's China Bistro, Inc. 2010. Retrieved May 17, 2012.
  5. ↑ "Products". Unilever. 2012. Retrieved May 17, 2012.
  6. ↑ "P.F. Chang's Modifies Its Partnership Accounting".
  7. ↑ "P.F. Chang's Announces Lease Accounting Changes".
  8. ↑ "P.F. Chang's Lauded for Gluten-Free Menu Items". Chainleader.com. Retrieved September 20, 2009. (subscription required)

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