Claim Jumper Hires Firm to Explore Options

Irvine-based Claim Jumper Restaurants said it had hired investment firm Piper Jaffray & Co. to explore strategic alternatives, including selling the company or going public.

“We really want to ramp up our growth,” Chief Financial Officer Bill Hustedt said. He denied a report that the chain was already looking for buyers.

Claim Jumper has 34 restaurants in five states, including 23 in California, and had sales of $250 million last year.

Randall Hiatt, president of restaurant consulting firm Fessel International, said the chain would be an attractive target for both restaurant companies and strategic investors.

-- Andrew Wang

* Los Angeles-based California Pizza Kitchen Inc. said it might have to restate financial results because of changes in the way it had to account for leases. It said any adjustments weren’t expected to affect previously reported revenue, cash balances or comparable-store sales.