Owner of Ray's on the River retiring after 40 years, selling restaurants

A longtime Atlanta restaurateur is calling it quits after over 40 years in the business.

The Atlanta Business Chronicle reports that Ray Schoenbaum, the founder of Ray's Restaurants, is retiring.

Schoenbaum, the son of Shoney's founder Alex Schoenbaum, opened Ray's on the River in 1984 and then expanded to Alpharetta's Ray's at Killer Creek and Atlanta's Ray's in the City.

In the decades that followed, the restaurants have been the spot where thousands of Atlantans celebrated big events and special occasions. Last year, Schoenbaum's contributions to the metro Atlanta restaurant scene were honored when he was inducted into the Georgia Restaurant Association's Hall of Fame.

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"It's been a pleasure to be in business this long. It's a real honor to be available for that long," Schoenbaum told FOX 5's Buck Lanford earlier in April when "Burgers with Buck" visited Ray's on the River.

MORE: 38-year server for Ray's Restaurants surprised with sports car as retirement gift

Reports say that TEI Hospitality, a Kennesaw-based company, has bought the restaurants.