NEW YORK, June 22, 2020 /PRNewswire/ -- ALJ Regional
Holdings, Inc. (NASDAQ: ALJJ) ("ALJ") announced today that
it will change the name of its wholly owned subsidiary Faneuil,
Inc., a leading national provider of multi-channel customer care
and other business processing solutions. Faneuil was named after
Boston's Faneuil Hall, where the
company was originally located. Faneuil Hall was named after its
donor Peter Faneuil, an
18th century merchant who was also a slave owner and
trader. Faneuil, which is in the business of helping customers to
constantly improve their product and service offerings through
introspection, has taken this opportunity in time to dig deep into
our own practices and history. In this process, the company
learned more about Mr. Faneuil's business activities and determined
that it must shift away from any implication associated with those
activities.
"While there was no racist intent in using Faneuil as our
company name, as we are learning and understanding the depths of
systemic racism in this country and after learning about Mr.
Faneuil's role in the institution of slavery, we have made the
decision to change our name to stand in solidarity with the Black
community," said Jess Ravich,
chairman of the board of Faneuil's parent company, ALJ Regional
Holdings Inc.
Anna Van Buren, President and
Chief Executive Officer of Faneuil added, "Our organization has
long welcomed talented people from all cultures and all backgrounds
to serve in employee and leadership roles. Our diversity has
been, and will continue to be, one of our greatest strengths."
The new name will be announced at a later date.
About ALJ Regional Holdings, Inc.
ALJ Regional Holdings, Inc. is the parent company of (i)
Faneuil, Inc., a leading provider of multi-channel customer care
and other business processing solutions to both commercial and
government entities in the healthcare, utility, retail, toll and
transportation industries, (ii) Floors-N-More, LLC, d/b/a Carpets
N' More, one of the largest floor covering retailers in
Las Vegas and a provider of
multiple finishing products for commercial, retail and home builder
markets including all types of flooring, countertops, and cabinets,
and (iii) Phoenix Color Corp., a leading manufacturer of book
components, educational materials and related products producing
value-added components, heavily illustrated books and specialty
commercial products using a broad spectrum of materials and
decorative technologies.
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SOURCE ALJ Regional Holdings, Inc.