marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
restaurant industry
12/11/2024
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By Arsenio Toledo
Wendy’s announces closure of 140 restaurants nationwide
Wendy’s has announced the closure of 140 underperforming locations in the United States. This decision is part of a strategic effort to streamline operations, improve profitability and focus on high-growth areas. The 140 restaurant closures were identified through a comprehensive, data-driven review. These locations were described as outdated and underperforming, with financial results “well below […]
10/29/2024
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By Belle Carter
Denny’s is shutting down 150 stores to boost cash flow amid declining sales
Twenty-four-hour diner and breakfast restaurant Denny’s recently announced the closure of 150 branches out of its 1,700 locations worldwide – 50 store closures by the end of this year and the remaining 100 locations will be shut in 2025. According to a Securities and Exchange filing from the chain on Tuesday, Oct. 22, the company […]
10/29/2024
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By Ava Grace
Denny’s to shut 150 of its most underperforming restaurants in the U.S. by end of 2025
Diner-style restaurant chain Denny’s has announced that it is closing 150 of its lowest-performing restaurants in the United States in an effort to turn around the brand’s flagging sales. About half of the closures will happen this year and the rest in 2025, the company said during a meeting with investors, with the goal of strengthening […]
10/25/2024
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By Laura Harris
Rising costs, shrinking consumer spending and changing customer habits push more restaurants into bankruptcy
At least 10 major restaurant chains have filed for Chapter 11 bankruptcy this year due to rising costs, shrinking consumer spending and the disappearance of pandemic-era financial support. In August alone, three notable restaurant chains sought bankruptcy protections. Mediterranean fast-casual chain Roti filed on Aug. 23, citing challenges from high operating costs and decreasing foot […]
06/18/2024
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By Olivia Cook
America is in the middle of a “restaurant apocalypse,” an ominous sign for the U.S. economy
The United States is witnessing a rapid decline in the country’s restaurant industry, notable as a bellwether for gauging the health of the U.S. economy. During economic prosperity, restaurant parking lots are packed and new locations are rapidly popping up. Conversely, during economic downturns, restaurants see a significant drop in patrons and struggling locations often […]
05/05/2023
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By Ramon Tomey
Burger King to close up to 400 locations in 2023
Fast food chain Burger King is set to close up to 400 locations across the country this year, with the under-performing ones being the first to go. According to the Daily Mail, Burger King CEO Joshua Kobza confirmed the closures after the company announced its results for the first quarter of 2023. The earnings release […]
04/13/2023
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By Ramon Tomey
Portland cafe closes for good as customers, staff cite SAFETY issues
A cafe in downtown Portland has announced that it will permanently close down, joining the many small businesses succumbing to the city’s rampant crimes. Coava Coffee Roasters announced the closure of its SW Jefferson Street location at the City of Roses in an April 10 Instagram post. The establishment wrote: “We have decided to permanently […]
04/04/2023
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By Ramon Tomey
Restaurant industry collapsing across the US, with several popular chains permanently CLOSING DOWN numerous locations
Several U.S. restaurant chains are closing down different locations across the country to streamline operations and cut costs – a consequence of the Wuhan coronavirus (COVID-19) pandemic and labor shortages. A report by the Daily Mail named several chains that downsized their operations, including several familiar brands. Applebee’s Casual dining chain Applebee’s has closed around […]
11/12/2021
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By Ramon Tomey
Labor shortage and rising food prices force Vanceboro couple to close restaurant
The restaurant industry has been among the many industries hit hard by the Wuhan coronavirus (COVID-19) pandemic. A Vanceboro, North Carolina restaurant that closed barely a month after opening was the latest victim of labor shortages and rising food prices. Clinton and Zena Dawson shut down their restaurant Mary Lee’s Kitchen on Oct. 24, less than a month […]
10/21/2021
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By Mary Villareal
Nashville restaurant owners speak out about labor shortages in the area
Restaurant owners in the Nashville area expressed their frustration about how hard it is to hire workers and how it is negatively affecting their businesses, forcing them to reduce hours and limit service to take-outs and deliveries only. Kahlil Arnold, owner of Arnold’s Country Kitchen, said: “We’d have people that fill out resumes and then we’d […]
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