J. Alexander's

Last updated

J. Alexander's Holdings Inc.
Company type Subsidiary
Industry Food service
Founded1971;53 years ago (1971)
Headquarters
Nashville, Tennessee
,
United States
Number of locations
44 (2017)
Key people
Mark Parkey [1] (CEO)
Jessica Hagler (CFO)
Mike Moore (COO)
Services Restaurants
RevenueIncrease2.svg US$304 million (2016)
Decrease2.svg US$6 million (2007)
Steady2.svg US$4 million (2007)
Total assets Increase2.svg US$104 million (2007)
Total equity Increase2.svg US$62 million (2007)
Number of employees
2,700
Parent SPB Hospitality
Subsidiaries Stoney River Steakhouse & Grill, Redlands Grill, Lyndhurst Grill
Website www.jalexanders.com

J. Alexander's Holdings Inc. is an American restaurant company that operates several casual dining restaurant chains. The company is headquartered in Nashville, Tennessee. [2] [3] [4] [5]

Contents

History

The company was founded in 1971 as Volunteer Capital Corporation by three Nashville businessmen, Jack C. Massey, Earl Beasley Jr. and John Neff Jr. The first restaurant was opened in Nashville, Tennessee, in 1991. [3]

J. Alexander's was acquired by Fidelity National Financial in 2012. It was spun off in 2015. It nearly acquired Ninety Nine Restaurant and Pub from Fidelity National Financial in 2017, [6] but the deal was ultimately broken off due to shareholder opposition to Fidelity regaining controlling stake. [7] In 2019, J. Alexanders had 46 restaurants in 16 different states. [1]

In April 2020, it reported that J. Alexander's received $15.1 million from the Paycheck Protection Program (PPP) as part of the CARES Act, a program intended to assist small businesses during the COVID-19 pandemic in the United States. [8] Days later, J. Alexander's returned all of the money it had received. [9]

On July 2, 2021, J. Alexander's announced that it would be acquired by Logan's Roadhouse parent SPB Hospitality for $220 million. [10] The acquisition was completed on September 30, 2021. [11]

Customer service

In 2019, the company was the target of a class action lawsuit for racial discrimination. At a Michigan restaurant, a black customer said she was asked to give up her seat for a white patron. [12] The company denied the charges. [13]

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References

  1. 1 2 Ruggless, Ron (March 12, 2019). "J. Alexander's names new CEO". Nation's Restaurant News . Retrieved March 12, 2019.
  2. ↑ Carey, B. (2005). Master of the Big Board: The Life, Times, and Businesses of Jack C. Massey. Cumberland House. p. 241. ISBN   978-1-58182-471-1 . Retrieved December 9, 2017.
  3. 1 2 Embry, Pat; Lawson, Rachel (May 2006). Where the Locals Eat: Nashville - Pat Embry, Rachel Lawson - Google Books. ISBN   9781928622086 . Retrieved December 9, 2017.
  4. ↑ Nickell, Patti (November 22, 2017). "Is this chain what's wrong with Lexington restaurants? Or is it doing dining right?". kentucky. Retrieved December 9, 2017.
  5. ↑ "Why J. Alexander's doesn't like the word 'chain'". The Tennessean. September 14, 2015. Retrieved December 9, 2017.
  6. ↑ Fidelity gets involved with J. Alexander's again
  7. ↑ Maze, Jonathan (February 1, 2018). "Shareholders vote against J. Alexander's merger". Restaurant Business. Retrieved September 27, 2024.
  8. ↑ "Here are the largest public companies taking payroll loans meant for small businesses". CNBC. April 21, 2020.
  9. ↑ "J. Alexander's will return PPP money". Nashville Post. Retrieved April 27, 2020.
  10. ↑ "J. Alexander's Holdings, Inc. to Be Acquired by SPB Hospitality LLC". www.businesswire.com. July 2, 2021. Retrieved December 27, 2022.
  11. ↑ Hospitality, S. P. B. (September 30, 2022). "SPB Hospitality Completes Acquisition of J. Alexander's Holdings, Inc". www.prnewswire.com. Retrieved December 27, 2022.
  12. ↑ "Black woman claims bartender at Michigan restaurant made her give up seat for white customers, but restaurant shares different story". Fox News. June 26, 2019. Retrieved June 26, 2019.
  13. ↑ "J.Alexander's: Surveillance video shows racial allegations are false". FOX 2 Detroit. June 26, 2019. Retrieved April 23, 2020.
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