The only remaining location of a historic breakfast chain in Santa Barbara is changing its name after thousands of people petitioned against its use of a racial epithet.

The owners of Sambo's on W. Cabrillo Blvd. haven't decided on a new name yet, but agreed that it was time for the 63-year-old restaurant to take action amid nationwide protests against police brutality and widespread racism. On Thursday, staff began to temporarily cover the bubble-lettered sign with symbols demonstrating peace and love.

"Our family has looked into our hearts and realize that we must be sensitive when others whom we respect make a strong appeal. So today we stand in solidarity with those seeking change and doing our part as best we can," Chad and Michelle Stevens wrote in a joint statement on the restaurant's Facebook page.

When the restaurant was established in 1957, founders Sam Battistone — Chad's grandfather — and Newell Bohnett chose the title because it combined the first three letters of Battistone's name and the last two of Bohnett's. The term is a derogatory slur against black and indigenous people, and the decision forced several locations to close or rename throughout the 1980s, according to the Santa Barbara Independent. Still, for decades, the walls of Sambo's restaurants nationwide were adorned with painted imagery associated with "The Story of Little Black Sambo," a children's book written by Helen Bannerman in 1899 that became controversial for its depictions of racial stereotypes.

"Thank you for taking initiative and hearing the community's outcry," wrote Yvonne Garcia on Facebook. "I have close family members who have been offended by this name since I was a kid."

Rashelle Monet is the organizer responsible for the petition, which reached 3,790 signatures before she received a call from Chad Stevens, who agreed to change the name of the restaurant. With the knowledge that his business had already been struggling due to the economic shutdown, Monet also attempted to spearhead a GoFundMe campaign to financially support the restaurant's rebranding.

"He should not have to take a financial hit for stepping up and doing the right thing," she wrote.

Over $2,300 was raised before the restaurant stated they would not take such contributions and asked her to redirect the funds. According to an email sent to those who participated in the fundraiser, all donations will be refunded.

On Friday, the restaurant continued to work on the installation of the new sign, but halted because the symbols would not stay adhered. For the time being, black trash bags are concealing the sign "out of respect" for the community, according to management.

"We are starting over and will try again until we get it done," wrote Chad and Michelle Stevens. "Thank you for all the outpouring of support and love. Let's continue to pull together as a community and be better for this moment in history."

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Amanda Bartlett is an SFGATE culture reporter. Email: amanda.bartlett@sfgate.com | Twitter: @byabartlett