J. Alexander’s Holdings, Inc. Announces Expansion of Review of Strategic Alternatives to Maximize Shareholder Value

NASHVILLE, Tenn.--(BUSINESS WIRE)--J. Alexander’s Holdings, Inc. (NYSE: JAX) (the Company), owner and operator of a collection of restaurants which includes J. Alexander’s, Redlands Grill, Stoney River Steakhouse and Grill and selected other concepts, today announced that its Board of Directors (the Board) is expanding its review of strategic alternatives. The Board, in consultation with its financial and legal advisors and the Company’s executive management team, will explore, review and evaluate a full range of options focused on maximizing shareholder value. These options include, among others, a possible merger or sale of the Company; a strategic large investment in the Company, accompanied by a significant share repurchase; or the acquisition of complementary concepts to increase the Company’s revenue base and operating leverage. The Board has retained Piper Jaffray & Co. as financial advisor to assist in this process.