Latest news with #SPBHospitality
Daily Mail
05-05-2025
- Business
- Daily Mail
Fast food chain opens its first Texas location in a decade
By Krystal has opened its first restaurant in Texas in more than 10 years, marking a major step in its comeback strategy. The new location, inside the EZ Travel Center in Tyler, began serving customers on April 15. It's the brand's first 24/7 restaurant at a rest stop. Founders Rody Davenport Jr. and J. Glenn Sherrill opened Krystal in 1932 after purchasing a Tennessee property for $5,000 during the first years of the Great Depression . The burger joint was thrust into the spotlight in 1954 after a popular DJ ordered 100 sliders for him and Elvis Pressley to hand out to fans outside the restaurant. With guests like then-Georgia governor Jimmy Carter and former President Ronald Regan , Krystal's popularity drastically grew, leading to its first franchise launch in 1990. Known for its sliders and chili cheese pups, Krystal now operates over 300 restaurants — far smaller than rivals like McDonald's. Now owned by SPB Hospitality, Krystal is pushing for expansion. It plans to open 200 more locations in the next three to four years, many in nontraditional formats like travel centers, airports, and convenience stores. 'We'll keep growing with traditional restaurants, but high-traffic hubs allow us more flexibility and efficiency,' said SPB CEO Josh Kern. Highway 31 Food Service, the franchisee of the Tyler location, also plans to open more restaurants from this 'iconic brand' in Texas. 'We see enormous potential in bringing Krystal to formats like this travel center,' Jagtar 'Jag' Thethy with Highway 31 Foodservice said. 'We're optimistic about what's ahead and seeing where this momentum takes us.' Krystal has faced financial problems over the year, and had twice filed for bankruptcy protection . Its latest bankruptcy was January 2020 after amassing as much as $100 million in debt . However, Krystal exited bankruptcy later that year after it was acquired by Fortress Investment Group , the owner of SPB Hospitality. Sales have bounced back and there are no plan for closures like some rivals. For example, last month J ack in the Box said it would shutter 150 to 200 locations . Krystal has also stayed out of the value meal wars and chicken sandwich wars , and SPB Hospitality modernized some locations by adding digital menu boards and drive-thru lane improvements. Daily Mail has reached out to Krystal's parent company SPB Hospitality for comment about the restaurant chain's future.
Daily Mail
05-05-2025
- Business
- Daily Mail
Once-thriving fast food restaurant chain opens its first Texas location in a decade
Krystal has opened its first restaurant in Texas in more than 10 years, marking a major step in its comeback strategy. The new location, inside the EZ Travel Center in Tyler, began serving customers on April 15. It's the brand's first 24/7 restaurant at a rest stop. Founders Rody Davenport Jr. and J. Glenn Sherrill opened Krystal in 1932 after purchasing a Tennessee property for $5,000 during the first years of the Great Depression. The burger joint was thrust into the spotlight in 1954 after a popular DJ ordered 100 sliders for him and Elvis Pressley to hand out to fans outside the restaurant. With guests like then-Georgia governor Jimmy Carter and former President Ronald Regan, Krystal's popularity drastically grew, leading to its first franchise launch in 1990. Known for its sliders and chili cheese pups, Krystal now operates over 300 restaurants — far smaller than rivals like McDonald's. Now owned by SPB Hospitality, Krystal is pushing for expansion. It plans to open 200 more locations in the next three to four years, many in nontraditional formats like travel centers, airports, and convenience stores. 'We'll keep growing with traditional restaurants, but high-traffic hubs allow us more flexibility and efficiency,' said SPB CEO Josh Kern. Krystal is aiming to open 200 new restaurants over the next three to four years Highway 31 Food Service, the franchisee of the Tyler location, also plans to open more restaurants from this 'iconic brand' in Texas. 'We see enormous potential in bringing Krystal to formats like this travel center,' Jagtar 'Jag' Thethy with Highway 31 Foodservice said. 'We're optimistic about what's ahead and seeing where this momentum takes us.' Krystal has faced financial problems over the year, and had twice filed for bankruptcy protection. Its latest bankruptcy was January 2020 after amassing as much as $100 million in debt. However, Krystal exited bankruptcy later that year after it was acquired by Fortress Investment Group, the owner of SPB Hospitality. Sales have bounced back and there are no plan for closures like some rivals. For example, last month J ack in the Box said it would shutter 150 to 200 locations. Krystal has also stayed out of the value meal wars and chicken sandwich wars, and SPB Hospitality modernized some locations by adding digital menu boards and drive-thru lane improvements.
Miami Herald
29-04-2025
- Business
- Miami Herald
Popular Southern fast-food chain returns to Texas after a decade
Summer is right around the corner, which means longer and sunnier days, warmer weather, and well-deserved vacations for those who haven't already used all their PTO. This is also the perfect season for road trips. In addition to being more affordable than buying multiple plane tickets, road trips offer a way to visit different cities, gain new experiences, and spend quality time with loved ones while creating fun memories. Don't miss the move: Subscribe to TheStreet's free daily newsletter Whether camping, visiting family, or heading to an amusement park, many would agree that a big downside to road trips is the lack of good food options. Related: Popular breakfast restaurant chain menu adds deal amid closures However, one popular Southern fast-food chain is coming to the rescue for road trippers who tend to get hangry when waiting too long to eat. Image source:Krystal, owned by SPB Hospitality, is an American fast-food chain founded in a small town in Tennessee in 1930. Since then, it has built nearly 300 restaurants in 11 states, thanks to its iconic burger sliders and chili cheese pups, which have helped it rise to fame as a local Southern favorite. This month, Krystal opened its first-ever restaurant inside a travel center and its first new location in Texas in over a decade. This makes it very convenient for customers traveling to a fun new destination or simply commuting from one town to another. The new Kystal is now open for business 24/7 and can be found at the EZ Travel Center at 16151 Highway 31 West in Tyler, Texas. Related: Tesla unveils an unusual innovation to win back customers Although Krystal is primarily known for its standalone restaurants, it built this latest addition inside a travel center to better accommodate consumers' fast-paced lives. The new location makes pit stops even more strategic, since guests can satisfy their hunger while fueling up thier vehicle. "We're excited to continue expanding our reach, as well as the way we meet our guests. Our focus remains creating convenient, memorable experiences and we're proud to meet our guests where they are - on the road, in their communities and in the everyday moments that matter," said SPB Hospitality CEO Josh Kern. Krystal launched a refranchising program in 2023 to open 200 new locations over the next three to four years, intending to reach approximately 500 total restaurants. In addition to this franchise initiative, the fast-food chain's latest expansion into a travel center is part of a growth strategy to create brand awareness and reach a new audience. By expanding into more unconventional formats, the chain will better adapt to consumers' needs. Krystal's parent company revealed that it also will continue to build traditional standalone restaurants. "We'll continue to grow with traditional freestanding restaurants, but formats like travel centers and other high-traffic hubs allow us to complement that approach with more flexibility, greater efficiency, and better alignment with how today's consumers live and move," said Kern. More Food News: Chipotle CEO plans major change customers will cheerBurger King menu adds whopper of a Whopper offer The new Tyler location is operated by a local franchise operator, Highway 31 Foodservice, which also revealed plans to open more Krystal restaurants in the area. "Krystal is an iconic brand with nearly a century of Southern heritage and serious momentum behind it. We see enormous potential in bringing Krystal to formats like this travel center," said a Highway 31 Foodservice leader, Jagtar Thethy. "We're optimistic about what's ahead and seeing where this momentum takes us." Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
27-01-2025
- Business
- Yahoo
After nearly 42 years, Jacksonville area's first microbrewery, landmark restaurant closes
After more than 40 years, Atlantic Beach dining landmark Ragtime Tavern has closed. A restaurant employee confirmed the closing Monday morning after reports circulated on social media, including a photo of a sign in the restaurant's window announcing the closure: 'Unfortunately, we have permanently closed. Thank you for allowing us to serve the Atlantic Beach community for the last 30+ years.' The restaurant, at 207 Atlantic Blvd., has served craft beer, seafood, steaks and more at the high-profile corner of First Street and Atlantic Boulevard since it first opened with just 12 tables in 1983. Located across from North Beach Fish Camp, Flying Iguana and Beaches Town Center mainstay Mezza Luna, Ragtime's legendary status there is only outmatched by Pete's Bar. 'Legendary' restaurants: These Jacksonville spots stand the test of time Bought by Southern California-based Kelly Companies from Houston-based SPB Hospitality a month ago, Ragtime's closing comes eight months after storied A1A Ale Works — another SPB Hospitality concept — closed in St. Augustine after 29 years. (Seven Bridges Grille & Brewery, also recently acquired by Kelly Companies, remains open at 9735 Gate Parkway N. in Tinseltown.) In its early years, Ragtime was known for its Cajun-style seafood. In 1991, owners Tom and Bill Morton expanded the restaurant, adding a taproom and later, the area's first microbrewery, the Times-Union reported. The Morton brothers would go on to launch A1A Ale Works in 1995. In 1998, the brothers sold the restaurants to Big River Breweries, which would go on to launch Seven Bridges. In 2020, SPB Hospitality, under Specialty Restaurant Group II LLC, took over the restaurants. And just last month, SPB Hospitality sold Ragtime and Seven Bridges to Kelly Companies, based in Southern California, Nation's Restaurant News reported. Be the first to know: Sign up for our weekly Dining Notes newsletter to get the latest on restaurant openings, closings and more Coming this year: 25 new restaurants are in the works for the Jacksonville area in 2025. Here's a list (This story was updated to include new information.) This article originally appeared on Florida Times-Union: Ragtime Tavern permanently closes in Atlantic Beach
Yahoo
27-01-2025
- Business
- Yahoo
‘Permanently closed:' RagTime Tavern in Atlantic Beach shuts down after 30 years in business
A popular Atlantic Beach restaurant has closed after decades in business. RagTime Tavern, Seafood & Grille, located on Atlantic Boulevard in the heart of the Beaches Town Center, posted a sign on its door saying it is 'permanently closed.' Here's what the sign said: 'Unfortunately, we have permanently closed. Thank you for allowing us to serve the Atlantic Beach community for the last 30+ years.' SPB Hospitality lists RagTime Tavern among its brands on its website. [DOWNLOAD: Free Action News Jax app for alerts as news breaks] Action News Jax told you in May when A1A Ale Works in St. Augustine, which was also operated by SPB, closed due to an expiring lease. Seven Bridges Grille and Brewery in Jacksonville, and J. Alexander's, which has a location at the St. Johns Town Center, are also among SPB Hospitality's brands. We have asked SPB if any of those restaurants are affected by this recent closure and we are waiting to hear back. [SIGN UP: Action News Jax Daily Headlines Newsletter] Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
