J. Alexander's
{{short description|American restaurant company}}
{{Other uses|J. Alexander (disambiguation)}}
{{Use mdy dates|date=October 2023}}
{{Infobox company
| name = J. Alexander's Holdings Inc.
| logo =
| image = J. Alexander's Restaurant Livonia Michigan.JPG
| image_caption = A J. Alexander's restaurant in Livonia, Michigan
| type = Subsidiary
| traded_as = {{ubl|{{NYSE was|JAX}}|{{NASDAQ was|JAX}}}}
| foundation = {{Start date and age|1971}}
| founder =
| location_city = Nashville, Tennessee
| location_country = United States
| location =
| locations = 44 (2017)
| area_served =
| key_people = Mark Parkey{{cite web|url=https://www.nrn.com/people/j-alexander-s-names-new-ceo?NL=NRN-01a&Issue=NRN-01a_20190312_NRN-|last=Ruggless |first=Ron|date= March 12, 2019|title=J. Alexander's names new CEO|work=Nation's Restaurant News|accessdate=March 12, 2019}} (CEO)
Jessica Hagler (CFO)
Mike Moore (COO)
| industry = Food service
| products =
| services = Restaurants
| revenue = {{increase}} US$304 million (2016)
| operating_income = {{decrease}} US$6 million (2007)
| net_income = {{steady}} US$4 million (2007)
| assets = {{increase}} US$104 million (2007)
| equity = {{increase}} US$62 million (2007)
| num_employees = 2,700
| parent = SPB Hospitality
| divisions =
| subsid = Stoney River Steakhouse & Grill, Redlands Grill, Lyndhurst Grill
| homepage = {{URL|http://www.jalexanders.com}}
| footnotes =
}}
J. Alexander's Holdings Inc. is an American restaurant company that operates several casual dining restaurant chains. The company is headquartered in Nashville, Tennessee.{{cite book | last=Carey | first=B. | title=Master of the Big Board: The Life, Times, and Businesses of Jack C. Massey | publisher=Cumberland House | year=2005 | isbn=978-1-58182-471-1 | url=https://books.google.com/books?id=sRzlr2LMtDEC&pg=PA241 | access-date=December 9, 2017 | page=241}}{{cite book|url=https://books.google.com/books?id=yaXy8pJy4OMC&pg=PT10 |title=Where the Locals Eat: Nashville - Pat Embry, Rachel Lawson - Google Books |date= May 2006|accessdate=December 9, 2017|isbn=9781928622086 |last1=Embry |first1=Pat |last2=Lawson |first2=Rachel |publisher=Where The Locals Eat }}{{cite web | last=Nickell | first=Patti | title=Is this chain what's wrong with Lexington restaurants? Or is it doing dining right? | website=kentucky | date=November 22, 2017 | url=http://www.kentucky.com/entertainment/restaurants/article186025088.html | access-date=December 9, 2017}}{{cite web | title=Why J. Alexander's doesn't like the word 'chain' | website=The Tennessean | date=September 14, 2015 | url=http://www.tennessean.com/story/money/2015/09/14/why-j-alexanders-doesnt-like-word-chain/72259732/ | access-date=December 9, 2017}}
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.
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,[http://www.nrn.com/finance/fidelity-gets-involved-j-alexanders-again Fidelity gets involved with J. Alexander's again] but the deal was ultimately broken off due to shareholder opposition to Fidelity regaining controlling stake.{{Cite web |last=Maze |first=Jonathan |date=2018-02-01 |title=Shareholders vote against J. Alexander's merger |url=https://www.restaurantbusinessonline.com/financing/shareholders-vote-against-j-alexanders-merger |access-date=2024-09-27 |website=Restaurant Business |language=en}} In 2019, J. Alexanders had 46 restaurants in 16 different states.{{cite web|url=https://www.nrn.com/people/j-alexander-s-names-new-ceo?NL=NRN-01a&Issue=NRN-01a_20190312_NRN-|last=Ruggless |first=Ron|date= March 12, 2019|title=J. Alexander's names new CEO|work=Nation's Restaurant News|accessdate=March 12, 2019}}
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.{{cite news |title=Here are the largest public companies taking payroll loans meant for small businesses |url=https://www.cnbc.com/2020/04/21/large-public-companies-are-taking-small-businesses-payroll-loans.html?fbclid=IwAR1yLLLgws1yeQMbvG604_G5MuplYSd9lTg3TS-xyFCdiov7EqPWOZT2SSs |publisher=CNBC |date=April 21, 2020}} Days later, J. Alexander's returned all of the money it had received.{{Cite web|url=https://www.nashvillepost.com/business/retail/article/21130333/j-alexanders-will-return-ppp-money|title=J. Alexander's will return PPP money|website=Nashville Post|language=en|access-date=April 27, 2020}}
On July 2, 2021, J. Alexander's announced that it would be acquired by Logan's Roadhouse parent SPB Hospitality for $220 million.{{cite news |title=J. Alexander's Holdings, Inc. to Be Acquired by SPB Hospitality LLC |url=https://www.businesswire.com/news/home/20210702005175/en/J.-Alexander%E2%80%99s-Holdings-Inc.-to-Be-Acquired-by-SPB-Hospitality-LLC |access-date=December 27, 2022 |work=www.businesswire.com |date=July 2, 2021 |language=en}} The acquisition was completed on September 30, 2021.{{cite news |last1=Hospitality |first1=S. P. B. |title=SPB Hospitality Completes Acquisition of J. Alexander's Holdings, Inc. |url=https://www.prnewswire.com/news-releases/spb-hospitality-completes-acquisition-of-j-alexanders-holdings-inc-301389271.html |access-date=December 27, 2022 |work=www.prnewswire.com |date=September 30, 2022 |language=en}}
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.{{cite news|url=https://www.foxnews.com/food-drink/black-woman-claims-michigan-restaurant-give-seat-white-customers|title=Black woman claims bartender at Michigan restaurant made her give up seat for white customers, but restaurant shares different story|date=June 26, 2019|work=Fox News|access-date=June 26, 2019}} The company denied the charges. {{Cite web|url=https://www.fox2detroit.com/news/j-alexanders-surveillance-video-shows-racial-allegations-are-false|title=J.Alexander's: Surveillance video shows racial allegations are false|date=June 26, 2019|website=FOX 2 Detroit|language=en-US|access-date=April 23, 2020}}
References
{{reflist|2}}
External links
- {{official website|https://www.jalexandersholdings.com}}
{{Finance links historical
| name = J. Alexander's Holdings, Inc.
| sec_cik = 1617227
}}
{{authority control}}
Category:Restaurant franchises
Category:Restaurants established in 1971
Category:Companies based in Nashville, Tennessee
Category:Regional restaurant chains in the United States
Category:Companies formerly listed on the Nasdaq
Category:Companies listed on the New York Stock Exchange
Category:1971 establishments in Tennessee