JAX - J. Alexander's warns on Q4 impact from COVID-19 restrictions

J. Alexander's Holdings (JAX) says the company has been impacted by a second wave of required dining room closures and increased capacity restrictions in certain of the markets in which it operates, including in Illinois, Kentucky, Michigan, Missouri, Pennsylvania, Maryland and Colorado.As of December 14,  a total of 10 of the company's 46 locations are closed for indoor dining. In certain of those locations where economically feasible and allowed by the various governing authorities, JAX has taken steps to expand its outdoor dining areas in order to accommodate additional guests, retain a portion of its workforce, and provide additional revenue to supplement its ongoing carryout business. The company also continues to offer a robust carryout menu at all 46 of its locations.JAX estimates that, excluding the impact of the $10.0M voluntary repayment of outstanding borrowings in October, it would be cash flow positive in the range of $400K to $450K per

For further details see:

J. Alexander's warns on Q4 impact from COVID-19 restrictions