The economy has affected a number of different businesses. In fact, there are many which have already closed, such as Linens ‘N Things and Circuit City. Many other stores have had to downsize and some, such as Fashion Bug, have lowered their prices. According to Yahoo News, there are quite a few restaurants which may now be in danger as well.
Some of the different restaurants that made the “danger” list include Perkins, Sbarro, Captain D’s Seafood Kitchen, Krispy Kreme, El Torito, and Mastro’s steakhouses. While there is no doubt that this list is fairly short, many of the restaurants on it are very big names. A number of these restaurants are household names which makes the list surprising. What is it that these restaurants are doing wrong? Is there anything that they can do to save themselves before having to either downsize or close?
Some of the different restaurants which did not make the risk list include McDonald’s, Subway, Olive Garden, Applebee’s, and TGI Friday’s. Why? Probably because all of these restaurants have recently been offering value deals. McDonalds has the dollar menu. Olive Garden offers $5 all you can eat soup, salad, and breadsticks. Applebee’s and TGI Friday’s have both been offering appetizer combos. Other fast food chains are known to offer affordable food, which is what most people are trying to eat nowadays.
In the past, it was said that Friendly’s was not doing too well either, but the restaurant began offering better deals. It did not make the list this time around, which may mean that Friendly’s is reeling in more customers. If the restaurants on the risk list offered $5 deals or included ice cream with a meal, then perhaps they would not be in so much danger.
Bennigan’s, on the other hand, was said to be in danger but they did nothing to save themselves. Instead of offering deals and advertising more, Bennigan’s ended up closing. There are a few Bennigan’s which are still open, but the restaurant is no longer franchised. Steak and Ale is another example of a restaurant that was unable to make it during these hard times.
Many people thought that Linens ‘N Things and Circuit City would be the only large corporations to be affected by the economy. This list of restaurants that are in danger is a sign that the hard times have not yet passed. Although we may think that the economy is beginning to progress, there are still businesses out there which are hurting. Keep in mind that mom and pop restaurants are not even included on this list. It is likely that the list would be a whole lot longer if you counted all of the privately owned restaurants which are in danger.
Whether or not any of these restaurants will close has yet to be determined. Only time will tell, but let’s hope for the best!
