In 1996, Georgia Tech alumnus and restaurateur Thomas E. DuPree, Jr. pledged a $20 million donation to the College of Management, resulting in the College being named the DuPree College of Management in his honor. However, while DuPree donated over $5 million to the College, his name was removed from the College in 2004 when the additional $15 million was not forthcoming. DuPree had recently resigned as board chairman and CEO of Avado Brands, the parent company of several chain restaurants that had recently filed for Chapter 11 bankruptcy. In a carefully worded statement, Georgia Tech President G. Wayne Clough remarked that while DuPree's name would be "reluctantly" removed from the college, "We retain the utmost respect for Tom DuPree and all of his remarkable accomplishments and many philanthropic activities." DuPree's donation of over $5 million to the College did fund nearly 200 scholarships although the remaining pledged donations were never provided.