Cordia Corporation (OTCM: CORG) today provided an update on its operations in light of global developments. Since 2019, the company has been working on ghost kitchens, delivery only concepts, branded virtual restaurants and has built out relationships with all of the major food delivery services prior to the onset of the COVID-19 pandemic.
Cordia believes that it is uniquely positioned to weather the current crisis as well as rapidly scale its delivery based kitchens in major cities once the virus threat has subsided.
The company forecasts that dine in restaurants will be significantly impaired by recent events. Many traditional restaurants that are now closed may not reopen. Social distancing could accelerate previous declines in the sector as consumers come to rely on delivery and pick up more and more.
The Company has been operating the Blind Pig in Las Vegas under an existing agreement. Cordia expects to conclude the full acquisition as was previously announced.
The Blind Pig is located at 4515 Dean Martin Drive across from the Las Vegas Strip and approximately one mile from the new Raiders Stadium. It also serves the residents of two condominium complexes which are adjacent to the restaurant with approximately 1200 residents.
The Blind Pig (http://app.theblindpignv.com) is now open for delivery and curbside pickup only. Management is considering adding basic grocery items for take out due to the number of residents who live within walking distance of the location.
The company is also exploring prepared meals to meet the expected demands as other area restaurants close. The Las Vegas location is able to accept bitcoin and other cryptocurrencies.
The Blind Pig LLC is owned by a limited liability company that is controlled and managed by Peter Klamka who is also the CEO of Cordia Corporation.
Cordia has been working with its landlord to accelerate the planned opening of its location in West Hollywood. The company was also offered a location in the Koreatown section of Los Angeles.
The company anticipates that real estate, equipment and labor costs will be more favorable due to recent global events. New locations would be ghost kitchens and virtual restaurants only.
Virtual restaurants are the future
The company has had discussions with representatives of known brands or notable individuals about creating virtual restaurants. A virtual restaurant is an app based restaurant usually based on a well known chef or famous personality. Should these discussions come to fruition, these would be proprietary products to the company that after testing in Las Vegas and Los Angeles could be rolled out nationally and internationally.
Cordia’s management has extensive experience in brand licensing and promotion having worked with Michael Jordan, Mike Tyson, Hello Kitty, Disney, NASCAR, the CW Network, 21 Savage, Migos, Cardi B, G-Eazy, Claudia Schiffer, KISS, Saweetie, Christina Aguilera and Nelly.