Selma Zaxby’s location sold to new owner
The Zaxby’s location at 618 Highland Ave., which unexpectedly closed March 10, has been sold by owner Janna Burke, along with locations at 4383 Courtney Dr. in Tuscaloosa and 5420 McFarland Blvd. in Northport.
Burke sold the locations to Zaxcos, LLC. on March 11, 2009. The Tuscaloosa-based company is obtaining franchise licenses, Burke said.
“As soon as they do it’ll open back up,” Burke said. “We have already sold the stores.”
If Zaxcos, LLC does not obtain franchise licenses, Burke said the locations would open as different businesses. She said she could not give a time frame for re-opening, but said the new owners would likely keep the same management and staff. This contradicts signs posted at the Selma location, which stated, “Closed Temporarily. Will reopen soon under new management.”
Burke said the businesses were making a profit, and as previously reported, the closings were not linked to public health concerns.
“I’m real ill,” Burke said. “I’m not able to look after them so we sold them.”
According to state records, Zaxcos, LLC, which is a restaurant management company, legally changed its name from Pate Investments, LLC on Feb. 20, 2009. Luther S. Pate IV of Tuscaloosa became the registered agent on March 11, 2009 in place of former registered agent Linda Coslovich of Tuscaloosa.
Pate did not return phone calls.
Zaxby’s, which is headquartered in Athens, Ga., has hundreds of locations stretching across the southeast from Texas to Virginia. The company was founded in 1990 and began franchising in 1994.
Licensee qualifications for a Zaxby’s franchise include: a collective net worth of at least $650,000, with liquid assets greater than $300,000, the ability to pass credit and criminal background checks, the willingness of all investors to personally guarantee any obligations required under the license agreement, willingness to commit to the venture within 60 to 90 days of signing the license agreement and the belief that guest service is critical to restaurant operations.