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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.
Full-service chains like Red Lobster, TGI Fridays and others are having a hard time
O’Leary notes while some restaurants have had to scale back or even declare bankruptcy, others are moving to less expensive locations or turning into commercial kitchens that specialize only in ...
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. [94] [22]
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]
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.
Therefore, to justify sales promotions, shops (such as Leon's in Canada) will sometimes announce a "Christmas in July" sale. [ citation needed ] A summer Christmas celebration is held on June 25 annually in Italy and worldwide. 25 June is a traditional Christmas celebration, or 6 months before the next, or 6 months after the previous (depending ...
On Monday, Rubio's confirmed that it had closed 48 of its California restaurants on Friday — more than a third of its already slimmed-down chain of 134 restaurants.