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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 23, 1999
(November 19, 1999)
J. ALEXANDER'S CORPORATION
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(Exact name of registrant as specified in its charter)
Tennessee 1-08766 62-0854056
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
P.O. Box 24300
3401 West End Avenue
Nashville, Tennessee 37203
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (615) 269-1900
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(Former name or former address, if changed since last report)
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Item 5. Other Events
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On November 19, 1999, J. Alexander's Corporation (the "Company") issued
a press release stating that the Board of Directors of the Company had declined
to pursue discussions with O'Charley's, Inc., regarding the possibility of a
merger of the two companies. In the press release, the Company stated that its
Board of Directors and management believe it is in the best interest of the
Company and its shareholders to continue to execute the Company's strategic
business plan as an independent public company. The press release is filed as an
exhibit hereto and is incorporated by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit 99.1 Press release dated November 19, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
J. ALEXANDER'S CORPORATION
Date: November 23, 1999 By: /s/ R. Gregory Lewis
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R. Gregory Lewis
Vice President, Chief Financial Officer
and Secretary
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EXHIBIT INDEX
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No. Exhibit
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99.1 Press release dated November 19, 1999.
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EXHIBIT 99.1
J. ALEXANDER'S CORP. DECLINES TO PURSUE DISCUSSIONS
NASHVILLE, Tenn., November 19, 1999 - J. Alexander's Corporation (NYSE: JAX)
said today that its Board of Directors has rejected another invitation by
O'Charley's to discuss the possibility of a merger of the two companies.
Lonnie J. Stout II, chairman, president and chief executive officer, said, "We
continue to believe that the execution of our strategic business plan as an
independent company is the best way to protect the integrity of the
J. Alexander's restaurant concept and to serve the best interests of our
shareholders."
"As we announced in our recent release on the third quarter ended October 3,
1999, our mature base of 14 restaurants has performed well this year, and our
new restaurants have shown improving results. We have had strong sales trends in
October and November to date, and expect to have a profitable fourth quarter.
Our newest location in Michigan, the first restaurant opened since we revised
our real estate strategy to focus exclusively on major metropolitan markets, has
already achieved in excess of $90,000 in weekly sales in its second week of
operations."
J. Alexander's Corporation operates its 21 J. Alexander's restaurants in
Alabama, Colorado, Florida, Illinois, Kansas, Kentucky, Louisiana, Michigan,
Ohio, Tennessee and Texas. J. Alexander's is a contemporary American restaurant
placing a special emphasis on food quality and professional service.
J. Alexander's Corporation is headquartered in Nashville, Tennessee.
This press release contains forward-looking statements that involve risks and
uncertainties. Actual results, performance or developments could differ
materially from those expressed or implied by those forward-looking statements
as a result of known or unknown risks, uncertainties and other factors,
including those associated with the Company's ability to increase sales and
profitability in certain of its restaurants, and others described from
time-to-time in the Company's filings with the Securities and Exchange
Commission, press releases and other communications.
