Shoney's history

In 1951 Schoenbaum began to open Big Boy restaurants as a franchisee, and two years later established his own restaurant concept, which as a result of an employee contest took on his nickname, Shoney's.

In May 1954, a public "Name the Parkette Big Boy Contest" was announced, and in June 1954 Schoenbaum's five Parkette Drive-Ins were rebranded as Shoney's.

Also in 1956, Schoenbaum sold a subfranchise to Abe Becker in Rochester, New York, for Becker's Big Boy.

Since a Shoney’s opened in Bearden in 1963, followed by the opening of the Walker Springs eatery about a decade later, Kingston Pike east of Cedar Bluff Road had not been without a Shoney’s.

He incorporated his privately owned company in 1968 as Danner Foods, Inc.

In 1969, Shoney's Big Boy of Middle Tennessee and the KFC subsidiary became a public company and was renamed Danner Foods, Inc., with Danner as president.

By 1970, another one had opened at 5422 Clinton Highway, followed a few years later by ones at 4020 Rutledge Pike and at Walker Springs Road/Kingston Pike.

A Shoney's franchisee purchased the parent company in 1971.

D's seafood concept, and in 1974 it was renamed Captain D's.

As director of a public company, he was forced to close his personally owned Shoney's #1, the original Parkette Drive–in, by 1975.

In 1976 it shortened its name to Shoney's, Inc., the same year Wachtel was named president.

By 1977, over 140 restaurants had opened and "Hamburger" was dropped from the "Captain D's Seafood" name.

In 1978, the several Danner's Family Restaurants in Louisville, were renamed Danner's Towne and Country using logos increasingly similar to Shoney's.

He succeeded Danner as CEO in 1981 as the company peaked.

In 1982, the company opened two Towne and Country restaurants in Tallahassee, Florida, also Frisch's Big Boy territory, but these were co–branded as Shoney's Towne and Country.

At the same time, Roberts hoped to continue the territorial expansion that Danner and others had begun after the 1984 break from Big Boy.

By 1985 Lee's Famous Recipe had been "Shoneyized"; its sales rose 103 percent, and the chain spanned 23 states.

Moreover, the move decreased the chain's dependence on white fish, which starting in 1986 experienced drastic price swings.

In 1988 Danner engineered a $728 million recapitalization that paid shareholders a $16 per share cash dividend and paid Danner, who owned 19 percent of the stock at the time, $111 million in cash.

Chainwide revenues for fiscal 1989 were $400 million.

To further boost sales, the chain introduced drive-thru windows in 1990.

The chain was eventually sold to Gulf Coast Development, Inc. in 1991.

In December of 1992 Len Roberts resigned as chief executive officer and chairman of Shoney's, Inc.

In March 1993 the company paid $110 for the remainder of Danner's stock.

The chain, which peaked at nearly 650 restaurants in 1994, also closed some underperforming units to improve profitability.

With sales declining and burdened by excessive debt, Shoney's initiated a major restructuring plan in early 1995.

One of these, J. Michael Bodnar, replaced Lynn as CEO in November 1997.

1999: The chain introduces the wharf-style seafood shack prototype restaurant as part of its move into the fast-casual category.

In 2000, the company filed for Chapter 11 bankruptcy protection and was acquired by Texas-based investment group Lone Star Funds two years later.

As part of its effort to expand into new and existing markets and to aid in its franchising plans, Captain D's introduced a new compact restaurant prototype in 2001.

On January 1, 2007, Lone Star announced that the Shoney's chain - at this point down to 272 restaurants - was being sold to David Davoudpour, founder and CEO of the Atlanta-based Royal Capital Corporation, the largest franchisee of Church's Chicken restaurants.

In January 2014, Shoney's opened a location in Sugarloaf Mills in Lawrenceville, Georgia.

In 2017, the chain began modernizing locations with a contemporary look.

As of 2019, Shoney's operates locations in 17 states.

Eleven persons received the maximum $100,000, (equivalent to $179,000 in 2020). The suit included company-owned food service operations such as Shoney's, Captain D's and Lee's Famous Recipe, but excluded franchised restaurants.