- Joined Sep 21, 2001
That phrase was on the reader board of a restaurant a few days ago. Two restaurants went under this week in my town. A sports bar and a franchise family restaurant. OK, so I rarely ate at the family restaurant but I was at the closing party for the sports bar and it was a shame to see them go. We used to go there maybe once or sometimes twice a week. I talked to the manager on the reason for closing. First, the bars' utility bills were doubled last year when there was the "energy crunch" that raised everyones' electric and gas. The building is 40,000 sq. ft.! The second reason is the recession. Big bars make for big overhead and this year the customers are staying away. I also know that at least 3 other restaurants are just about ready to fold. I was told by an insider at one of the places that this regional chain restaurant is only averaging $300 per day since last fall. They should be closed by the end of March. Very scary. And I'm talking about a chain with name recognition. As I told someone last week that when the bad restaurants start to go, it means that the good restaurants are struggling to keep their tables full.