Quarry Walk Oxford ’s Post

Restaurant Apocalypse Accelerates As America’s Biggest Chains Go Bankrupt July 9, 2024 8:16 pm by CWR Burger King. Wendy’s. Boston Market. Red Lobster. Popeye’s. Arby’s. Corner Bakery. Carl’s Jr. The list goes on. On top of being some of the most iconic restaurants in the U.S., what do all of these companies have in common? According to U.S. Court documents, these brands have all faced bankruptcies over the past year as the “Restaurant Apocalypse” continues to wreak havoc across the nation. New reports reveal that America’s biggest chains are announcing the closure of thousands of locations right now. https://lnkd.in/gXPYfBPx

The Chicago Sun-Times just published an important Editorial piece asking for a more concerted efforts to stop restaurant burglaries. Here is the most important paragraph from this plead for change: "Chicago is famous for its food. Its restaurants represent myriad cultures, from Ecuadorian to Indian. Not many cities can compete with Chicago when it comes to restaurant fare. But a disturbing trend threatens our lively food scene. Burglaries of restaurants are hitting record numbers, as reported by the Sun-Times recently. Reporters Ambar Colón, Mohammad Samra and Tom Schuba found that 635 burglaries were reported at restaurants last year, the most since at least 2001. Worse yet, Chicago is on track to surpass that number this year." So many burglaries in Chicago's restaurants are threatening not just the owner's economic livelihood but puts at risk one of of the most important cultural and societal assets our city offers, our world class food scene. Let's encourage all our elected representatives to take this seriously and change this highly concerning trend. Restaurant owners need our support and respect, not just in words but in actions, too.

Chicago’s restaurant scene is known worldwide. To keep it thriving, city must bring down burglaries. (via Chicago Sun-Times) “Chicago is famous for its food. Its restaurants represent myriad cultures, from Ecuadorian to Indian. Not many cities can compete with Chicago when it comes restaurant fare. But a disturbing trend threatens our lively food scene. Burglaries of restaurants are hitting record numbers, as reported by the Sun-Times recently. Reporters Ambar Colón, Mohammad Samra and Tom Schuba found that 635 burglaries were reported at restaurants last year, the most since at least 2001. Worse yet, Chicago is on track to surpass that number this year. Generally, thieves are looking for cash and liquor, the reporters noted. Apparently, there is a prolific black market for booze. What can be done? For starters, alderpersons should consider tapping funds from their aldermanic menu programs to install concrete barriers where feasible in front of restaurants and stores susceptible to smash-and-grabs — when criminals ram vehicles through glass windows to steal. It’s a worthy investment. These places are, after all, economic lifelines for neighborhoods.“ To read more, visit: https://lnkd.in/gEEziJhf.

Maybe you’re a regular at The Detroit Pizza Bar or perhaps you only recently learned about Marcus and Akunna’s restaurant from their feature in a New York Times article (https://lnkd.in/gjpW4kPY), but do you know the story of how the Detroit Pizza Bar came to be? Watch this video to learn how Marcus and Akunna established one of the first Black-owned pizzerias in #Detroit 🍕 and how Michigan Saves supported their vision of a #sustainable and energy efficient business.🌱⚡️ #smallbusiness #sustainablebusiness #greenbank #greenfinancing #epa #detroitbusiness #hospitality #blackowned #cityofdetroit

If you've recently eaten at an independent restaurant or ordered takeout from one, there’s a good chance your meal was cooked and served with gear sold by father-son duo Fred and Gene Clark’s WebstaurantStore, the Internet storefront of their 53-year-old family company Clark Associates. They've devoured a fifth of the $18 billion U.S. restaurant equipment and supplies market with an Amazon-like playbook. Now they’ve cooked up a plan for greater growth. Read my latest (very non-aerospace) Forbes Magazine story here: #restaurants #ecommerce #restaurantsupplies

POI update: Shake Shack, Longhorn Steakhouse, and Texas Roadhouse are expanding their reach, while Dickey's, Zoe's Kitchen, and BurgerFi are closing some locations. Check out our latest file of expansion and closures in our Casual Restaurant category. Comment below if you'd like a FREE copy! Like if you don't care but would like to help us share the #data! #restaurant #commercialrealestate #locationintelligence #smallbusiness Sites USA

Kendall Ware, CFE, the ex-President of Cinnabon and Carvel, addresses the query concerning the equitable distribution of resources among franchisees. #customerdataplatform #loyaltyapp #restauranthacks #restaurantgrowthhacks #restaurantsystem #restaurantbusiness #restaurantmanagement #restaurantowners #restaurantmanagementsystems #restaurantindustry #restaurantmarketing #restaurant #personalizedmarketing #CDP

Kendall Ware, ex-President of Cinnabon and Carvel, echoes the prevalent concern among franchisors – the imperative to preserve and protect the quality of their brand. #FranchiseWisdom #MilagroBusinessInsights #customerdataplatform #loyaltyapp #restauranthacks #restaurantgrowthhacks #restaurantsystem #restaurantbusiness #restaurantmanagement #restaurantowners #restaurantmanagementsystems #restaurantindustry #restaurantmarketing #restaurant #personalizedmarketing #CDP

The Unlikely New Real-Estate Darling: Restaurants The WSJ wrote a great article detailing the current state of restaurant real estate. See summary below: Total restaurant sales have never been higher. They are on track to top $1.1 trillion this year, a 5.4% increase from 2023’s record-high level, according to the National Restaurant Association, an industry group. Historically, restaurants have been perceived as risky tenants; however, with changing consumer spending habits caused by rising wages, low unemployment, and the emergence of “foodie culture,” food service leases have become a powerful force in the retail real-estate sector. In the past year, more than 19% of retail leases were allocated to food services, marking the highest proportion for any category since 2007. Further, food tenants have been favorable for landlords due to the influx of creditworthy chains and the proven track record of these establishments in boosting foot traffic to nearby businesses. https://lnkd.in/e_vB7cfu ___________________________________________________________________________ If interested in purchasing a restaurant I am currently selling a turn-key restaurant opportunity on W Atlantic Ave in Delray Beach. This deal comes with over 100+ parking spots, a liquor license, all the kitchen equipment allowing an operator to quickly open up their own concept. If you would like more details feel free to download the OM or reach out to myself or Robert Goldberg directly. https://lnkd.in/e26xJR_W

Few restaurants companies can match the impact and staying power of Red Lobster 🦞 While the news of their Chapter 11 was a surprise to no one… I think it is important to remember with respect and yes even nostalgia the Red Lobster story. Begun in the late 60’s by Bill Darden & Charlie Woodsby they set in motion a new standard in how to bring quality - scale - consistency and affordability to a whole new segment of the dining sector. The Red Lobster 🦞 story is personal- as my dad was an early manager and executive with the company. He had the privilege of learning the craft of customer service and quality execution from the two legends in the industry- Bill Darden and Joe Lee. The original Red Lobster corporation was purchased by General Mills while keeping the restaurant division headquartered in Florida. They went on to add various concepts including Olive Garden and attempted chains such as China Coast and Smokey Bones. Red Lobster and Darden were the gold standard in management training and sent hundreds of people throughout the industry who would go onto lead many brands and create noted concepts. General Mills spun Darden off to a stand alone company in the 90’s and then Darden spun Red Lobster 🦞 off back to a sole restaurant entity in 2013. As a Floridian - the Darden corporate commitment to Central Florida and the State set a corporate standard. My hope is that Red Lobster can retool and re-emerge in this changing marketplace. No doubt many lessons to be learned in the current potential sunset of the brand… many will write the how it got to Chapter 11. I chose to focus on the brilliance - hard work and service that made Red Lobster into the industry standard.