P. F. Chang's China Bistro

P.F. Chang's China Bistro
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
 305 (Worldwide, 2018)
Area served
 Worldwide
Key people
 Michael Osanloo
CEO of P.F. Chang’s China Bistro, Inc.
Products Asian American cuisine
Owner Centerbridge Partners
Website pfchangs.com
Footnotes / references
[1][2][3]

P. F. Chang's China Bistro is an Asian-themed US casual dining restaurant chain founded in 1993 by Paul Fleming and Philip Chiang, owned and operated by Centerbridge Partners, and headquartered in Scottsdale, Arizona.[4] The chain specializes in American Chinese cuisine, plus other Asian dishes. Employees describe the menu as "Asian flavors." As of October 2017, P. F. Chang's operated 208 restaurants in the United States and more than 100 in international markets under licensee agreements. Countries include Canada, Mexico, Argentina, Chile, Brazil, Colombia, Costa Rica, Panama, Turkey, Lebanon, Philippines, South Korea, Dominican Republic, Egypt, Jordan, Kuwait, Qatar, Saudi Arabia, Bahrain, United Arab Emirates, and the United Kingdom.

"P. F. Chang's" is the namesake of Paul Fleming (P. F.) and Philip Chiang (whose surname was simplified to Chang).[5]

History

A P.F. Chang's China Bistro at Stamford Town Center, Connecticut (now closed)

The chain was founded in 1993 by Paul Fleming and Philip Chiang - son of Cecilia Chiang. The first restaurant was opened at the Scottsdale Fashion Square in Scottsdale, Arizona.[5] 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 China Bistro Home Menu" was introduced. The brand represents a group of frozen appetizers and meals that were sold under license by Unilever.[6]

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

In December 2017, the company announced that they would open a location in Shanghai during the first part of 2018, P.F. Chang's first location in China.[7]

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.[8] On March 17, 2005, the company adjusted 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.[9]

A P.F. Chang's China Bistro 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]

Data Breaches

2013-14 Credit Card Breach

In mid-2014, information regarding credit card breaches at P.F. Chang's restaurant was brought to light by various sources, and later confirmed by P.F. Chang's[10].

2018 Security Vulnerability

On April 9th 2018, an independent security researcher, Akshay 'Ax' Sharma demonstrated a security flaw in P.F. Chang's Rewards program which enabled leakage of members' information, due to a poorly implemented API.[11].

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. ↑ "P.F. Chang's Wants to be The American Bistro of Shanghai". Ad Age. 2018. Retrieved April 21, 2018.
  4. ↑ "P.F. Chang's Dubai| Chinese Cuisine". Mall of the Emirates. Retrieved 2017-12-29.
  5. 1 2 "FAQs". P.F. Chang's China Bistro, Inc. 2010. Retrieved May 17, 2012.
  6. ↑ "Products". Unilever. 2012. Archived from the original on May 12, 2012. Retrieved May 17, 2012.
  7. ↑ Taylor, Kate (6 December 2017). "Iconic Asian restaurant chain P.F. Chang's is opening its first location in China as an 'American bistro'". Business Insider. Retrieved 7 December 2017.
  8. ↑ "P.F. Chang's Modifies Its Partnership Accounting".
  9. ↑ "P.F. Chang's Announces Lease Accounting Changes".
  10. ↑ "P.F. Chang's Confirms Credit Card Breach".
  11. ↑ "P.F. Chang's Security Flaw revealed, following Panera Bread's leak".
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