A New Jersey woman and her husband have made national headlines after acquiring a popular Philadelphia restaurant for $3.3 million.
Tracey and Cheri Syphax, a married entrepreneurial couple, said that they plan to continue to uphold the legacy of Booker’s Restaurant & Bar, a Black-owned restaurant that has been a staple in the community since it opened in 2017.
The establishment was originally owned by another Black entrepreneur Saba Tedla, who named the restaurant after Booker Wright, an iconic African-American waiter in Mississippi who worked at a local “Whites only” restaurant during the 60s while running a restaurant that catered to Black customers on the side.
Through their company Phax Entertainment Group, LLC, the Syphax’s acquired the restaurant through a loan they secured from the U.S. Small Business Administration, which helped to fund a portion of the purchase. For their day jobs, Cheri works for a global medical technology company while Tracey works in real estate.
“As a 28-year serial entrepreneur and entrepreneurial instructor, I recognize great models and Saba Tedla has built a great model of excellent service [and] great food in a warm and inviting atmosphere that has made Bookers a staple go-to restaurant in the heart of West Philly,” Tracey told the Trenton Journal. “Our purchase of Bookers now opens endless possibilities for this well-known corridor. We are excited to become a member of this thriving up-and-coming neighborhood.”
The couple says while they are the new owners of the venue, they will do the best they can to keep its charm and ambiance, which hundreds of patrons have grown to know and love.
“Tracey and I are excited to take over a restaurant with such a great reputation and following. I have patronized Saba since Aksum and it is a surreal, full-circle moment to own an establishment that made my transition to Philly feel like home,” Cheri concluded. “We will keep the menu items our regulars have come to know and love while listening to their needs and desires for something new. We will also create dishes and cocktails that will tickle and delight their palate and look forward to serving them with the same quality and excellence they have come to expect.”
