In short order he succeeded in boosting traffic to Furr's and Bishop's, causing some financial analysts to take notice and recommend the company as a good buy.
Levenson also began closing less productive units, especially Bishop's Buffets that were located in fading strip malls. Like owners of other southern cafeteria chains, Levenson harbored ambitions of expanding to the North, talking openly about his desire to explore such territories as Chicago, New York, and New Jersey.
Nevertheless, he also rejected the Kmart strategy of building new units, maintaining instead that the cafeteria business was mature and that the better course was to grow by acquisitions. Operations would then be consolidated to realize increased efficiencies while at the same time gaining greater buying power and marketing clout. Levenson had also not forgotten about Wyatt Cafeterias. Once again, however, his acquisition hopes were dashed, and Wyatt was instead bought up by an employee stock ownership plan.
It was unlikely, however, that Levenson would have been able to take on the debt required to purchase Wyatt. He was already suffering under onerous interest payments that severely limited the possibility of growth.
Moreover, Levenson acquired Furr's and Bishops at a time when the entire cafeteria segment was entering a slump. Chains, unable to successfully penetrate to other regions of the country, had overbuilt in the South. Increased cafeteria competition was also aggravated by the influx of fast food chains that lured away customers who no longer cared to wait in lines.
For many, cafeterias were now seen as a bastion for senior citizens, leading to erosion in the young family business. In March Levenson converted the partnership to a corporation but was subsequently unable to pay a dividend that he had promised shareholders.
Not only was the company steadily losing money, it was charged with falsifying the registration statement when it was converted to a corporation.
Lewis to succeeded him as chairman and restructure the company's debt. Long-time fast food executive William Prather, former CEO at Hardees who had been brought in as a consultant, was then named the company's new chief executive. In a subsequent buyout, Lewis gained 60 percent of Levenson's outstanding stock and Prather 40 percent. Over the next four years most of Lewis's efforts would be devoted to restructuring the debt load incurred from Levenson's leveraged buyout, which continued to cripple the company, preventing it from performing necessary remodeling.
In addition to the Furr's and Bishop's restaurants, Lewis and Prather also inherited several minor ventures, including some liquor stores and two El Paso Barbecue restaurants.
Now serving as both chair and CEO, Lewis finally succeeded in completing a recapitalization plan in January He then announced that he was stepping down as chief executive.
Board member Kenneth Reimer, formerly of Tony Roma's, took over on an interim basis, and three months later Ted Papit was hired as president and chief executive. The former CEO of Black-Eyed Pea Restaurants expressed enthusiasm for the recent opening of a new unit that replaced one that had burned down. Insurance money essentially funded a prototype restaurant that offered patio seating, a food-court-style serving arrangement, and a carry-out market.
Papit also envisioned new marketing ideas. After six months at the helm he announced he was resigning, then changed his mind only to become caught up in an unusual shakeup.
The unprecedented move was taken, according to a proxy statement, because "Teachers believes there is something fundamentally wrong at the company and the company has been operated for far too long for the benefit of a few rather than all the stockholders.
With Lewis ousted, Papit resigned and was replaced as chief executive on an interim basis by board member Suzann Hopgood, who had been on the previous board before resigning to join the TIAA slate. In October the company hired a new president and chief executive: Phillip Ratner, former head of both Spaghetti Warehouse and Acapulco Restaurants.
Also within the first six months of taking control, the board decided to move the company's headquarters to Richardson, a suburb of Dallas, although Dynamic Foods would be left in place in Lubbock.
Under Ratner, Furr's continued to spend money on capital improvements, primarily to remodel existing units and to upgrade its computer and information system, as well as to improve the operations at Dynamic Foods. From the summer of through , the company remodeled 30 of its restaurants, while closing down several that were underperforming.
In February it opened a new unit under the Furr's Family Buffet banner that employed a "scatter-bar" concept that had proven popular with such restaurants as Golden Corral. Home page. Privacy Policy. Terms of Service. Contact Us. The content displayed in the usarestaurants. The brand names, logos, images and texts are the property of these third parties and their respective owners.
If you have any questions or suggestions regarding this matter, you are welcome to contact our customer support team. Taxes, fees not included for deals content. United states » Texas » Dallas county » Dallas Furr's Fresh Buffet is a business providing services in the field of Restaurant,. Similar Businesses Nearby Cicis ft Restaurant. I had the meatloaf and it was tasteless and cold. The steamed cabbage was sour, the baked chicken smelled spoiled. The manager didn't even offer an explanation or anything.
We've been to Golden Corral and generally like it, but thought we'd try this place, which is sort of like Golden Corral but, it turns out, different, too.
The food selection is somewhat different, but we thought the quality was the equal of Golden Corral Somethings were quite good -- the beef, for example. Others ot so much. Buffets simply should stop serving pasta, By the time the customer picks it up, it is soggy and limp. Some of the fried chicken was dried out, as if it had been there all day.
Desserts were good. In all, we think Furr's provides a good alternative to G. The wait staff and servers were exceptionally kind and attentive.
The restaurant itself looks a bit dated, but everything is clean. The food is well prepared and tasty. If you are a fan of Furr's you know what to expect and you will not be If you are looking for a great variety of entrees, sides, and desserts, you should give this Furr's a try. Beats fast food and cheaper.
They have the fire department and vendors on Thursdays to speak to the kids. Our family enjoyed dinner at this Furr's Cafeteria. We have eaten there before and felt confident to bring other family members.
The steamed cabbage was especiall delicious! I was so excited when I found a Furr's cafeteria, but was soon disappointed. First of all this location is still done cafeteria style, but you pay one price, not ala carte. While you can get as much as you want, it is awkward and Fried chicken is good. The chocolate meringue pie is out of this world, but everything else is just mediocre. I think this location should either go buffet style or bring back individual cafeteria pricing.
Location itself is on the run down side. Flights Vacation Rentals Restaurants Things to do. Skip to main content. Sign in to get trip updates and message other travelers. Furr's, Dallas. See all restaurants in Dallas. Furr's Unclaimed. All photos 2. Ratings and reviews 3. Is this restaurant family-friendly? Yes No Unsure.
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