
<PAGE>   1


EXHIBIT 21 -- SUBSIDIARIES OF J. ALEXANDER'S CORPORATION


<TABLE>
<CAPTION>
                                               STATE OF
SUBSIDIARY                                   INCORPORATION
----------                                   -------------
<S>                                             <C>
VCE Restaurants, Inc.                           Tennessee
J. Alexander's Restaurants, Inc.                Tennessee
J. Alexander's Restaurants of Kansas, Inc.        Kansas

</TABLE>


