9,450 restaurants closed in U.S. last year, report says

[xchrom]

http://latimesblogs.latimes.com/money_co/2011/08/9450-restaurants-closed-last-year-report-says.html

There are 9,450 fewer restaurants in the U.S. than there were last year, according to a report released Tuesday.

Of those, 8,650 were independent restaurants, which took their steepest dive since market research company The NPD Group began its tally in 2001.

Although chain restaurants stayed relatively stable, companies such as Koo Koo Roo began scaling back their presence in Southern California because of money troubles.

"A volatile economy, more frugal consumers and a lack of financial backing have made it a difficult business environment for independent restaurants," Greg Starzynski, director of product development -– food service for NPD, said in a statement.



***that's almost the whole article -- just the numbers.

[PoliticAverse]

1. People can afford to go out to eat ? n/t

[MadinMo]

12. Whenever a local restaurant goes out of business,

Mr. Madinmo and I usually tell one another that it was probably because we never ate there. Looks like we carry a lot of blame here!

[marmar]

2. This is the really tragic part:

"Of those, 8,650 were independent restaurants"

[xchrom]

5. +1

[pipoman]

3. Restaurants are always the number one

most failed business. It is an extremely difficult business, especially these past couple of years because of food cost volatility combined with an unsure employment outlook. Food manufacturers have spent the last 20 or so years convincing the industry that it can't afford to hire people who know how to cook and instead to purchase pre-prepared foods to insure consistency. The result has been that every restaurant's food tastes the same. Most food suppliers tell restaurants that food cost has gone from the traditional 33% of the ticket, to 40% - 50% of the ticket, this has contributed dramatically to the restaurant failures.

[robcon]

4. How many new restaurants opened? The net is probably negative.

A lot of empty restaurant buildings in my downtown (NY suburb.)

[Jim Lane]

10. Article is confusing about whether the 9,450 is the gross or the net.

The headline says that many restaurants closed (i.e., gross), but the text then says there are that many fewer restaurants (i.e., net), but the text goes on to break down the 9,450 into types of closings (i.e., back to sounding like the gross).

We can conclude that the restaurant business is hurting and that innumeracy is not unknown among journalists.

[humblebum]

6. This is what trying to turn the US from a manufacturing to service economy

is doing to the country.

[jberryhill]

7. They need to ban kids

They'll get more customers by banning kids. Proven DU fact.

[PoliticAverse]

9. I thought that was only at The Olive Garden... n/t

[FarCenter]

8. This would be about a 2% drop

[Broderick]

11. I would never open up a resteraunt

the failure rate is dire. Plus, with economic downturn, discretionary spending slows and it's one of the easiest things to cut from a personal budget.

[jberryhill]

13. Yeah, but your sign would be on pictures all over the Internet!