During the pandemic, the dictators assured us that restaurant closures would not be an issue, since the economy would easily “recover” afterwards. Add in the recent hikes in minimum wages and it comes as no surprise that the marginal consumer has evidently reached a very different conclusion.
Late last week, anonymous sources told Bloomberg that TGI Fridays was preparing to file for Chapter 11 bankruptcy and was in talks with lenders who could possible keep the company afloat in the meantime.
In related news, Denny’s is scaling back its operations in accordance with the declining fortunes of its customers.
Denny’s is closing 150 restaurants over the next year, and the 71-year-old diner chain is mulling a major change to its 24/7 operating hours.
Fifty locations are set to close by the end of 2024, while the remaining 100 will shutter in 2025, Denny’s announced in an earnings call Tuesday.
Trust the experts. Famous last words.
As the old, old, saying goes: An ‘ex’ is a has been, and a ‘spurt’ is a drip under pressure.
The lockdowns had a major negative effect on restaurants as well as society as a whole. Denny’s never recovered from taking their great “corned beef hash” off their breakfast menu years before, IMHO.
Just my opinion, but I don’t think the DNC and the Woke comrades have come to grips with the reality that the middle American consumer is tapped out.
In addition to the contraction of the restaurant space, retail is also contracting, I refer you to the comments by the CEO of Target.
To quote Carville, “It’s the economy , stupid.”
Factor in that blue states like Illinois and California have legislated a state minimum wage double the federal minimum wage
Prices are crazy, even for fast food. My last few trips the stores are mostly empty and I’ve noticed a marked decline in quality, burgers are not hot, onion rings not cooked through, not asking for a lot here. They are not helping themselves.
It’s difficult to properly cook a hamburger when culturally one thinks they are barbecuing their great grandmother
Restaurant prices in general have risen substantially since the COVID scare. Tack on food price inflation, rising wage costs and you have the perfect storm. I used to eat out a lot. Not so much anymore..
As we must continually remind ourselves, covid was never the problem: it was always the governments’ response to covid that did most of the damage. And by most, I mean over 95%…any blame that can be assigned to the virus itself is intensely magnified by what governments did.
Exactly – and the horrible people that were resonsible for the governments response will never be brought to justice. In fact they never lost a dime during the entire fiasco.
Only in government can an incompetent twit destroy peoples lives and it’s just “Oh well, nobodies perfect. Shucky darn. Oh well, life goes on.”
Another factor is a good many of their former customers are not returning due to their being treated like lepers and pariahs during the “vaccine” passport era.
A scant handful stood up to the moronic tyranny, and they’ll get my business if ever I’m in the area. The rest can die in a fire.
Ed
Thats precisely My attitude.
I think it was somewhere around Sep 2021, drove thru a Tims in Calgary after ordering a Capachino…saw the sign re: Tims Kids Kampfs – no Unvaxxed children allowed, When the window opened – said: Tell your manager I will never utilize your services again adding I don't support NAZI's. Near 3 yrs later…same attitude & one that has hardened given LMIA & other subsidies.
Has William Adamson Skelly “recovered”?
Since the marginal consumer is tapped out … and their restaurants of choice are tapped out … how about all those high paid high tech workers who never lost their jobs during the pandemic … and who all got richer during the pandemic … start patronizing TGIF and Dennys?
Yes, I know these restaurants aren’t nearly hipster-enough for their tastes. They don’t offer dragon-fruit or other exotic non-American foods … but surely they could lower their expectations to save a business. Right? Time for the so-called elites to start stepping up for the middle class … you know middle class people like Kamala who eat Doritos and work at MacDonalds
Gird your loins. Great Depression 2.0 just around the corner. Thank you government!
Being Canadian, I was impressed with the people and food at Denny’s in Oregon. Plus they were the only restaurant open – virtually run by Mexicans, but great people. We got to our hotel at 9:00 pm and pretty much all the restaurants had stopped serving food except Denny’s. Even the beer was great.