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Midnight Holdings Group Announces 2007 Expansion Plans
PR Newswire "US Press Releases "
CLINTON TOWNSHIP, Mich., Jan. 9 /PRNewswire/ -- Midnight Holdings Group, Inc. (OTC: MHGI) today announced its expansion plans for 2007. During 2007, Midnight plans on opening five new standalone All Night Auto service centers and two additional shopping mall-based All Night Auto service centers that are combined with All Night Auto retail stores.
The five additional standalone All Night Auto service centers will enhance three of the four markets in which Midnight currently operates: Tempe, Arizona (currently, one service location); Illinois (currently, three service locations); and Michigan (currently, two service locations). Midnight anticipates that all five of the new standalone service centers will be located in proximity to existing All Night Auto locations to provide three strategic benefits: cost-efficient operations; increased brand marketing effectiveness; and awareness for the company and its unique business proposition. In addition, the new centers will handle the high local demand for services that occurs in all of the locations where All Night Auto has opened.
The two new shopping-mall-based retail centers locations are anticipated to be in markets not currently served: Wisconsin and the Carolina region, and will be sited at locations to be announced at a later date. Each of the new shopping mall locations will include a brand-new All Night Auto retail store.
The two mall-based locations are being developed in conjunction with CBL Properties (CBL), the fourth largest shopping center REIT in North America and a private funding group located in the Detroit area.
"Nick Cocco and our entire service team is focused on revenues and brand recognition," said Earl D. Diem, 43, Chief Operating Officer of Midnight. "We are pushing hard for substantial growth from both our existing stores and from our new stores. We expect to have 17 All Night Auto branded facilities in operation by the end of 2007, including 3 retail centers and 14 service centers, pushing our system-wide sales to more than $10 million."
In October, 2006, Midnight announced its plans to operate 100 or more retail stores and service center locations throughout the United States over the next several years. All Night Auto, a subsidiary of Midnight Holdings, provides automotive care through a unique combination of technology, service and value focused on the needs of today's consumers. The company's unique brand proposition is to provide concierge level automotive services that supersede any traditional level of automotive service.
Nicholas A. Cocco, 41, the President and CEO of Midnight Auto, said: "We continue to experience growing demand for our services in all of our locations, and the new shopping mall expansion is a further indicator of the enormous growth potential we see for the company."
About All Night Auto
All Night Auto provides all makes/all model concierge service and convenience to both retail and commercial clients seven days a week, and 100 hours per week. Stories are open Monday - Thursday from 7 a.m. until midnight, Saturdays and Sundays until 6 pm. All Night Auto's "Automotive Concierge Service" is designed to meet the demands of today's educated and discriminating consumer in the rapidly changing service economy. All Night Auto currently operates nine All Night Auto branded locations in Arizona, Illinois, Michigan and Oklahoma.
About Midnight Holdings Group, Inc.
Midnight Holdings Group, Inc. (OTC: MHGI) is the parent of Midnight Auto Franchise Corp and All Night Auto Stores, Inc. The subsidiary companies provide management and distribution services as well as automotive aftermarket products and concierge services under its flagship "All Night Auto(R)" and "All Night Lube Express(TM)" brand names.
This news release contains forward-looking statements, including those that involve known and unknown risks, delays, uncertainties and other factors not under the control of Midnight Holdings Group, Inc., which may cause actual results, performance or achievements of the Midnight Holdings Group, Inc. to be materially different from the results, performance or other expectations implied by these forward-looking statements. These risks and other factors, are discussed in the Midnight Holdings Group, Inc.'s filings with the Securities and Exchange Commission such as the 10K, 10Q and 8K reports. Midnight Holdings Group, Inc. undertakes no obligation to update any forward- looking statements.
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