Buffets, Inc.

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Buffets ,Inc.
TypePrivate
IndustryRestaurant
Founded1983
Key peopleRob Webster Chairman,
CEO Anthony Wedo
Websitebuffet.com
 
  (Redirected from Hometown Buffet)
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Buffets ,Inc.
TypePrivate
IndustryRestaurant
Founded1983
Key peopleRob Webster Chairman,
CEO Anthony Wedo
Websitebuffet.com

Buffets, Inc., with corporate offices in Greer, South Carolina [1] [2] is a company that owns American national chains of buffets.

As of January 2008, Buffets, Inc. and its affiliated companies operated at least 626 restaurants in 39 states.

History[edit]

The company was founded by Roe Hatlen and C. Dennis Scott in 1983. Scott left in 1989 to start HomeTown, but the two chains merged in September 1996. The current Chief Executive Officer is Anthony Wedo

On November 1, 2006, Buffets Inc. acquired Ryan's Restaurant Group adding 340 Ryan's Grill Buffet and Bakery and Fire Mountain Grills locations.[3]

On January 22, 2008, Buffets Inc. filed for bankruptcy, under Chapter 11. Although all restaurants were said to be staying open and continuing to operate normally under the then-current reorganization plan,[4] the company called for the immediate closing of 52 stores nationwide, effective February 12, 2008. The final day of normal business operations in these stores, as well as the announcement of closing to all team members in said stores, took place the previous day.

On April 28, 2009, Buffets Inc. emerged from Chapter 11 reorganization with reduced debt along with a new Board of Directors.[5]

On January 18, 2012, Buffets, Inc. filed for Chapter 11 bankruptcy protection again, and the immediate closure of 81 restaurants throughout the country and is recapitalizing in an agreement with its lenders that will convert debt into a controlling equity stake.[6]

On July 19, 2012 Buffets Inc.said it had completed the financial restructuring of its multichain enterprise and emerged from Chapter 11 reorganization, six months after its pre-negotiated filing on January 18. CEO Mike Andrew said in a statement: "We have emerged with significantly less debt, a much improved balance sheet and a sustainable capital structure, all of which will allow us to leverage our strong brands as we make investments in the future success of our restaurants."

On December 5th 2012 Buffets Inc., the operator of 347 steak-buffet restaurants in 35 states, has named Anthony Wedo as its chief executive to lead the company on its post-bankruptcy "Plan to Win."Stay tuned," Wedo said in an exclusive interview with Nation's Restaurant News. "We have a story here that will unfold in the next six to 12 months as we reinvite old guests back and bring in new guests. The company's spent a long time going through a painful process, and I want to lead them to a victory, which could include some new portfolio growth down the road."

Wedo is replacing R. Michael Andrews Jr., who had been chief executive of the company since 2005.

On Apr 25, 2013, Buffets, Inc., parent company of Old Country Buffet, Hometown Buffet, Country Buffet, Ryan's, and Fire Mountain restaurants, which are popular for their family dining experience, reported sales up 1.7% for the quarter ending April 3, 2013**, the best year-over-year quarterly comparable sales performance in seven years. Company officials attribute the improvement to the fast track implementation of its turnaround blueprint entitled the "Plan to Win" that was launched last July.

As of May 2013, the company has 347 restaurants in 35 states, under the brands "Old Country Buffet", "HomeTown Buffet", "Ryan's", "Fire Mountain", and "Tahoe Joe's Famous Steakhouse".

Chains[edit]

Ryan's Restaurant Group[edit]

Ryan's was founded by Alvin A. McCall in 1977. It was acquired by Buffets, Inc. on November 1, 2006.[7] Today there are over 200 restaurants in 23 states operating under the Ryan's Grill, Buffet and Bakery and Fire Mountain Grill names. Ryan's is based primarily in the southern and midwestern US, with its corporate headquarters located in Greer, South Carolina.[8] Some of its accolades include being one of the "Best Small Companies in America" seven consecutive years, and named "Top Family Steakhouse in America" for 10 consecutive years.[9]

HomeTown Buffet[edit]

Old Country Buffet, Ann Arbor, MI

HomeTown operates 168 locations throughout the United States, variably known as "Old Country Buffet" or "Country Buffet," in addition to the flagship name. HomeTown Buffet locations have a mascot named, "H.T. Bee" (or "O.C. Bee" at Old Country Buffet). Usually, for in-restaurant appearances, the location manager or another employee wears the costume and greets guests and children.

Other Restaurants[edit]

References[edit]

External links[edit]