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Krystal Headquarters Leaving Chattanooga
The Krystal Company announced Wednesday that it will relocate its corporate office, called the Restaurant Support Center (RSC), from its current location in Chattanooga to a new location in North Atlanta in early 2013. In a news release the company said, "The move will allow the company to deliver support to its 350 restaurants more efficiently and effectively from Atlanta’s central location, particularly with its high concentration of restaurants in and around the Atlanta area."
Chattanooga was the birthplace of Krystal nearly 80 years ago. In its release the company said "Krystal will continue to honor Chattanooga as its birthplace as well as its founding family, the Davenports. The company is searching for a site for an official Krystal museum and plans are underway for an 80th anniversary celebration in Chattanooga next year."
The company said the relocation is part of the ongoing efforts of Krystal’s president and CEO Doug Pendergast, along with the corporate leadership team, to increase customer satisfaction, grow sales and profits, and improve franchisee success.
Pendergast made the announcement well in advance to ease the transition for Krystal’s approximately 60 RSC employees. The majority of the RSC employees have the option to apply for new positions in the Atlanta office. Severance packages and job search assistance will be offered to those who do not relocate.
This move will not affect the 6,000 employees in Krystal’s restaurants.
The company said, "The cost-effective nature of this move will allow the Company to build an additional new store every year. Each of these new restaurants will create about 40 jobs."
“Chattanooga has been a wonderful home for Krystal, and we appreciate the support of the community”, said Pendergast. “Our five-year plan calls for aggressive new store growth and Atlanta provides a more central location with access to the one of the country’s largest airports. Our new support center will enable us to provide better support to our existing restaurants and to accelerate new restaurant development across the southeast.”
Krystal plans to open at least 150 new restaurants in the next five years, creating thousands of new jobs and providing current employees with multiple opportunities for advancement. Krystal’s new leadership team has also outlined plans for improved customer service, greater franchise partner support, and enhanced financial performance. The company has already begun developing a more efficient new store prototype and testing new menu items designed keep its brand fresh and relevant.
Pendergast added: “Our greatest regret is that while this move makes tremendous business sense, it impacts the people who have helped make this company what it is. That is why we are announcing our plan early, providing employees with as much time as possible to adapt. We believe that by working hard to improve our products, service, and restaurants, we can help The Krystal Company return to growth mode and begin adding new stores and jobs, in both existing markets and new markets.”
Photo: The original Krystal Restaurant on Cherry St. in downtown Chattanooga.
CLICK HERE for more photos on Facebook.
CLICK HERE for Krystal's Questions & Answers about the move.
CLICK HERE for Krystal's CEO Biographical sketch
More Business News
Last Update on March 12, 2014 07:32 GMT
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Market angst about China's economy has been fueled by weak exports for February, the government last week allowing the first-ever default in the domestic corporate bond market and the central bank permitting the tightly controlled yuan currency to weaken. China's economic growth of 7.7 percent last year was the lowest in two decades.
Benchmark U.S. crude oil fell below $100 a barrel. The dollar gained against the yen and was unchanged against the euro.
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Word leaked of a criminal investigation yesterday and two congressional committees have opened probes into the matter.
The Justice Department is investigating whether GM broke any laws with its slow response to a problem with ignition switches in compact cars from model years 2003 to 2007. That's according to a person briefed on the matter. The probe is said to be handled by the U.S. Attorney's Office in New York.
Spokesmen for the Justice Department and GM would not comment. The investigation was first reported by Bloomberg News.
At issue is why GM waited until February to recall 1.6 million older-model compact cars worldwide, even though it admitted knowing about the problem for a decade. The faulty ignition switches have been linked to 31 crashes and 13 deaths.
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The agreement by two key senators and a White House endorsement sent shares of Fannie and Freddie sinking Tuesday. Fannie stock fell $1.79, or more than 30 percent, to $4.03. Freddie dropped $1.48, or 26.8 percent, to $4.04.
The plan would create a new government insurance fund. Investors would pay fees in exchange for insurance on mortgage securities they buy. The government would become a last-resort loan guarantor.
President Barack Obama proposed an overhaul of Fannie and Freddie last year, but Congress has struggled to craft legislation. The government rescued the two mortgage giants with a $187 billion bailout, which they have repaid.
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Department officials say the rule would update a 2012 rule on the same subject. But many disclosure forms offered since then have become too lengthy, complex and confusing.
There is a public comment period of 90 days. Then, the department will hold focus groups on the proposed new rule with those from financial firms offering such plans, with a particular focus on pension plans with fewer than 100 participants.
CHICAGO (AP) -- The agency that oversees public transportation in Chicago is suing American Airlines.
The suit claims that the airline has falsely claimed to buy "vast amounts of jet fuel" from a small office in a rural community to avoid paying tens of millions of dollars in taxes in the nation's third-largest city, where the actual work is done.
The lawsuit comes a year after the same agency -- the Regional Transportation Agency -- accused United Airlines in a lawsuit of doing the same thing in the same small town.
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Hersman blogged that her nearly 10 years at the National Transportation Safety Board have been "a great ride," but she is moving on to the second "dream job" of her career.
She was on-scene for more than 20 accident investigations, including the crash of an Asiana Airlines jet in San Francisco last July.
Under Hersman, the five-member board has called for a ban on all cellphone use while driving, including hands-free calling, and lowering the legal limit for drivers' blood alcohol to combat drunken driving. She is particularly known for championing protections for children, including on planes.
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This is only the second time the FDA has shut down a plant after gaining that authority in a 2011 food safety law. The agency says that its inspectors found unsanitary conditions at Roos Foods in Kenton, Del., including a badly leaking roof and rusting and deteriorating equipment.
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LAS VEGAS (AP) -- Caesars Entertainment Corp. has reported a large quarterly loss after taking a hefty impairment charge.
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