Harold Butler (businessman)

Harold Butler (1921 – July 9, 1998) was an American entrepreneur. He is best known for being the founder of the Denny's casual dining restaurant chain in the late 1950s. Butler also helped develop numerous other chains, including Winchell's Donuts, Naugles, and Jojo's.

In 1953, Harold Butler and his partner opened Danny's Donuts in Lakewood, California.[1][2] In 1955, after his partner's departure from the now 6-store chain, Butler created and changed the concept a year later in 1956 from a donut shop to a coffee shop with store #8. Danny's Donuts was renamed Danny's Coffee Shops and changed its operation to 24 hours. In 1959, to avoid confusion with Los Angeles restaurant chain Coffee Dan's,[2] Butler changed the name from Danny's Coffee Shops to Denny's Coffee Shops. In 1961, Denny's Coffee Shops becomes Denny's.

In 1963, Butler began franchising Denny's.[3] Under his leadership, the chain expanded to 800 locations. He once explained, "I love to feed people."[1]

Butler got into trouble in 1969 when he tried to buy Caesar's Palace in Paradise, Nevada. The Securities and Exchange Commission accused him of offering some Caesar's shareholders a secret (and illegal) deal.[1][4] When the deal collapsed, Denny's stock price steeply declined. He sold his Denny's stock, once worth $80 million, for $3 million in 1971[1] and resigned as chairman.[4]

Butler died of a heart attack on July 9, 1998 in La Paz, Mexico, where he was retired.[1] He was survived by his wife Jean (a one-time Denny's waitress and franchise owner).

References

  1. 1 2 3 4 5 Myrna Oliver (July 11, 1998). "Harold Butler; Founder of Denny's Chain". Los Angeles Times.
  2. 1 2 Michael Corkery (May 12, 2010). "Daughter of Denny's Founder Slams Company". Wall Street Journal.
  3. ↑ Scott Allen (May 4, 2011). "Humble origins of 10 favorite restaurants". CNN.
  4. 1 2 "Harold Butler Dies". The Washington Post. July 12, 1998.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.