marketcrash
bitcoincrash
pensions
nationaldebt
bubble
risk
debtcollapse
restaurants
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 These locations were described as outdated and underperforming, with financial results “well below […]
11/06/2024
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By Ava Grace
Casual restaurant chain TGI Fridays files for BANKRUPTCY
Casual restaurant chain TGI Fridays has filed for Chapter 11 bankruptcy, the latest of many restaurants raising the white flag. The Associated Press (AP) reported that the Dallas-based chain filed for bankruptcy in a Texas federal court on Saturday, Nov. 2. TGI Fridays Executive Chairman Rohit Manocha said in a statement that the restaurant’s financial […]
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 […]
09/20/2024
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By Laura Harris
Kevin Hart’s vegan food chain closes all locations in California following minimum wage hike for fast-food workers
Comedian Kevin Hart’s vegan fast-food chain Hart House suddenly closed all four locations in Southern California on Sept. 10 due to the alleged impact of the new minimum wage hike for fast-food workers. In September 2023, California Gov. Gavin Newsom signed AB 1228 by Assemblymember Chris R. Holden (D-Pasadena) to increase the minimum wage for more than 500,000 […]
07/09/2024
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By Olivia Cook
Fast-casual pizza chain MOD Pizza in the red, considers BANKRUPTCY FILING
Fast-casual restaurant chain MOD Pizza appears to be in the red and is reportedly considering filing for bankruptcy. Bloomberg News first disclosed the development, citing unnamed sources. The report said while bankruptcy is a possibility, MOD Pizza could still choose a different path. The company is “exploring all options” to improve its financial situation, according […]
06/26/2024
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By Olivia Cook
Casual dining restaurant chain Hooters CLOSES several locations nationwide as “restaurant apocalypse” worsens
Casual dining restaurant chain Hooters – known for its iconic wings and the signature Hooters Girls – has announced the closure of several locations across the United States. The closures appear to impact Hooters locations in 14 states. According to Hooters’ owner Nord Bay Capital, economic challenges such as rising food, labor and rent costs […]
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 […]
05/11/2023
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By Belle Carter
Josh Sigurdson: Closures of fast food chains signal looming global STARVATION
Several fast food chains are declaring bankruptcy and closing both dining locations and corporate offices across the country due to “under-performance” brought about by economic uncertainties. For World Alternative Media‘s (WAM) Josh Sigurdson, this is a sign of worse things to come. He remarked that while health and environment advocates could see this as a […]
04/07/2023
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By Ethan Huff
New post-pandemic dining restrictions in some cities charge customers hundreds of dollars just to get seated at a table
A lot has changed ever since the Wuhan coronavirus (Covid-19) was forced on the world, including in the food service industry. Some restaurants in major cities like Chicago have begun imposing minimum purchase requirements on their patrons, or charging cancelation fees for reservations. Mandatory minimums are gradually becoming the norm in some areas, especially at […]
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