Perkins Restaurant and Bakery
Perkins Restaurant and Bakery is a North American casual dining restaurant chain which serves breakfast throughout the day, including pancakes. Perkins also has a bakery that sells pastries that are baked fresh daily.
History
- 1958: Matt and Ivan Perkins open Perkins Pancake House in Cincinnati, Ohio.
- 1958-1969: Matt and Ivan oversee the franchising of their restaurants.
- 1967: Perkins Minnesota Franchisee, Wyman Nelson, introduces an expanded menu and an aggressive advertising campaign. He develops a growing interest in expanding the Perkins brand beyond his initial territory.
- 1969-1978: Nelson consolidates Smitty's and Perkins into Perkins 'Cake & Steak' to gain national brand awareness for the chain and assumes nationwide development control of Perkins 'Cake & Steak,' Inc. In a quest to grow quickly and steadily, Nelson focuses on opening over 220 Perkins Cake & Steak House restaurants.
- 1978-1979: Matt & Ivan Perkins decide to retire and sell their final interest in the Company including all trademark and distribution rights. In August 1979, Perkins becomes a wholly owned subsidiary of Memphis-based Holiday Inns, Inc. Corporate headquarters are established in Memphis, Tennessee.
- 1985: Seasoned restaurant entrepreneur Donald N. Smith, who served on the Board of Directors of Holiday Inns, purchases ownership interest in Perkins and becomes Chairman of the Board and Chief Executive Officer of the Company. He brings over twenty years of restaurant leadership to the position.
- 1986: Smith begins to refine and upgrade the Perkins concept through building re-modeling, the introduction of in-store bakeries and the development of distinctive brand imagery and standardized signage. Renewed emphasis is placed on fine-quality, table service family dining. Recipe modifications and new signature items including updated omelettes, melt sandwiches and salads are introduced.
- 1987: The Company is renamed Perkins Family Restaurants and organized into a master limited partnership with interests publicly traded on the New York Stock Exchange.
- 1988: Perkins expands internationally, opening a restaurant in Thunder Bay, Ontario, Canada.
- 1990: Perkins begins its philanthropic relationship with Give Kids the World, contributing both money and free meals to the Florida based charity, dedicated to fulfilling the wishes of terminally ill children from around the world.
- 1991: Perkins Promise of 100% Guest Satisfaction and Quality Forever for Everyone is published and becomes the cultural benchmark for the Company - "In everything we do, we commit ourselves to our guests and our co-workers."
- 1992: The first new Perkins prototype opens in Springfield, Illinois. Featuring a new arched exterior façade with neon lights and an interior design that incorporates a central kitchen and bakery with separate dining wings for increased efficiency and guest satisfaction, the building reflects a more upscale look consistent with its expanded menu offerings and personalized service.
- 2000: Perkins Family Restaurants, L.P. completes its merger with a wholly owned subsidiary of The Restaurant Company. The Restaurant Company (TRC), owned by Chairman of the Board and Chief Executive Officer Donald N. Smith, Harrah's Entertainment and the Equitable Life Assurance Company, becomes sole owner of Perkins Family Restaurants.
- September 22, 2005: Castle Harlan, the New York-based private equity investment firm, announces it completed the acquisition of The Restaurant Company for approximately $245 million.
- As of year end 2005: The Restaurant Company has 151 company-operated and 331 franchise full-service restaurants in 34 states and five Canadian provinces.
- May 3, 2006: The Restaurant Company completely acquires Marie Callender's,[1] a chain of casual dining restaurants best known for freshly baked pies.
- 2008: Perkins celebrated 50th anniversary of bakery and restaurant chain.
- 2011: - June 12, 2011 - Many restaurants were abruptly closed across the country with no notice given to customers and staff. States where Perkins restaurants closed were 4 in Colorado, at least 1 in Kansas, 2 in Illinois, a few in Tennessee, 9 in Florida, 7 in Michigan and only 1 in Minnesota. Essentially all of Western Michigan,.[2][3][4][5][6][7] On June 13, 2011 Perkins & Marie Callender's Inc. filed for Chapter 11 Bankruptcy. They closed about 65 restaurants in total and reduce 2,500 jobs. They listed assets of $290M and liabilities of $441M. On November 30, 2011, they successfully emerged from bankruptcy. [8]
References
External links