O'Charley's

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O'Charley's
Type Subsidiary
Industry Restaurants
Founded 1969
Founder(s) Charley Watkins
Headquarters Nashville, Tennessee, United States
Number of locations 343
Area served Southeast and Midwestern United States
Key people David Head(CEO)
Revenue Decrease US$830.1 million (2010)
Operating income Decrease US$-17.3 million (2010)
Net income Decrease US$-34.9 million (2010)
Total assets Decrease US$422.7 million (2010)
Total equity Decrease US$178.2 million (2010)
Owner(s) American Blue Ribbon Holdings
Website www.ocharleys.com

O'Charley's is a casual dining restaurants chain in the United States, with more than 230+ company-owned locations.[1] O'Charley's is located in 17 Southern and Midwestern states, including four franchised O'Charley's restaurants in Michigan, four franchised O'Charley's in Ohio, three joint venture O'Charley's restaurants in Louisiana, and one joint venture O'Charley's restaurant in Wisconsin.

O'Charley's was part of the parent company O'Charley's, Inc. Enterprise, a multi-concept restaurant company that operated or franchised a total of 363 restaurants under three brands: O’Charley’s, Ninety Nine Restaurant, and Stoney River Legendary Steaks.[citation needed] In 2012, O'Charley's, Inc. Enterprise was acquired by Fidelity National Financial and became part of American Blue Ribbon Holdings.[2]

History[edit]

Charley Watkins founded O'Charley's restaurant[3] in 1969 with a single restaurant on 21st Avenue South in Nashville, across the street from Vanderbilt University.[4] Watkins ran O'Charley's from 1969 to 1984 when he sold the restaurant to David K. Wachtel. David K. Wachtel spent 23 years working for Shoney's where he eventually became president and chief executive officer of the restaurant company. Wachtel resigned from Shoney's in 1982.[5] Wachtel intended to develop the O'Charley's restaurant into a restaurant chain. In mid-1987, the 12th O'Charley's opened in Lexington, Kentucky, occupying a site formerly used by the Bennigan's chain of restaurants. While the Lexington grand opening was under way, Wachtel was working on plans to convert two more Bennigan's units in Huntsville, Alabama and Nashville, Tennessee into O'Charley's.[citation needed]

In December 1993, Burns and McWhorter announced the formulation of a growth strategy designed to carry the 45-unit chain into the ranks of the country's largest regional dinner-house chains. In 1994, the company planned to open at least eight new O'Charley's restaurants, situating the new units primarily in southeastern markets such as Cookeville, Tennessee; Louisville and Paducah, Kentucky; and Palm Harbor, Florida. There was an expectation of restaurants opening for the year, but as time continued past 1994 other issues hindered this expansion. In February 1994, Wachtel resigned as chairman of O'Charley's, citing his "pressing commitments" with other business interests, the most notable of which was the 300-unit Western Sizzlin' budget steakhouse chain he had acquired in 1993. Burns was named chief executive and co-chairman and McWhorter was tapped as president and co-chairman.[citation needed] One month after Wachtel's resignation, the company was advised that four former O'Charley's employees had filed a federal lawsuit charging the restaurant chain with racial discrimination practices against African Americans in the company's hiring, assignment, and promotion procedures. Burns denied the charges[citation needed]

In 2007, O'Charley's closed its Nashville commissary and distribution center, and began using Performance Food Group to distribute product to all of its locations.[6]

Awards[edit]

Named to Forbes "200 Best Small Companies in America" list for the third consecutive year in 2002.

References[edit]

  1. ^ "O'Charley's Inc.". O'Charleys. Retrieved 18 February 2012. 
  2. ^ Fidelity National to Acquire Rest of O'Charley's
  3. ^ Judy Sarles (18 July 2004). "Son of O'Charley's founder moves to grow burger chain". Nashville Business Journal. Retrieved 18 February 2012. 
  4. ^ "O'Charley's founder Charles Watkins passes away". Nashville Business Journal. 17 August 2011. Retrieved 18 February 2012. 
  5. ^ Bill Carlino (24 January 1994). "Western Sizzlin': back to basics under Wachtel". Find Articles - Business Library. Retrieved 18 February 2012. 
  6. ^ Bill Carlino (13 July 2007). "O'Charley's Inc. Announces Sale of Nashville Commissary and Other Supply Chains". O'Charley's Inc. Retrieved 18 February 2012. 

External links[edit]