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“The U.S. restaurant industry finds itself on the menu,” he wrote in a column for the Daily Mail. Don't miss Beating the market is no myth: These expert stock-pickers' recent success could ...
Full-service chains like Red Lobster, TGI Fridays and others are having a hard time
Amid escalating operational costs and changing consumer behaviors, the U.S. restaurant industry faces unprecedented closures, with financial strain evident across famed chains and local eateries.
The US restaurant industry was projected at $899 billion (~$1.04 trillion in 2023) in sales for 2020 by the National Restaurant Association, the main trade association for the industry in the United States. [2] [3] An estimated 99 percent of companies in the industry are family-owned small businesses with fewer than 50 employees. [4]
On July 4, 2023, Christmas Tree Shops announced that it had run out of the funds needed to sustain business operations, opting to instead liquidate all 70 of its remaining stores. [ 93 ] Christopher & Banks filed for bankruptcy on January 14, 2021, and announced it would be closing all of its 449 stores in 44 states.
There are more restaurants in the US than Americans actually need — and then, when they do go out, they're visiting local options instead of major chains. 3. Grocery store prices are too damn low
Ohio's sales tax holiday begins at midnight July 30 and runs through 11:59 p.m. Aug. 8. For the first time, restaurants are included.
These chain restaurants will be open on Christmas Eve and Christmas Day this year.