Restaurants – American Political Report https://americanpoliticalreport.com There's a thin line between ringing alarm bells and fearmongering. Thu, 05 Dec 2024 12:23:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://americanpoliticalreport.com/wp-content/uploads/2024/10/cropped-Square-32x32.jpg Restaurants – American Political Report https://americanpoliticalreport.com 32 32 237576155 Trump Effect: Popular Mexican Restaurant Set to Return 20 Years After Closing All US Locations https://americanpoliticalreport.com/trump-effect-popular-mexican-restaurant-set-to-return-20-years-after-closing-all-us-locations-2/ https://americanpoliticalreport.com/trump-effect-popular-mexican-restaurant-set-to-return-20-years-after-closing-all-us-locations-2/#respond Thu, 05 Dec 2024 12:23:18 +0000 https://americanpoliticalreport.com/trump-effect-popular-mexican-restaurant-set-to-return-20-years-after-closing-all-us-locations-2/ 20 years after filing for bankruptcy and shutting down all of their locations, Chi-Chi’s Mexican Restaurant is set to make a comeback. Does this have anything to do with the results of the 2024 presidential election?

According to WJAT:

Twenty years after closing all of its locations due to bankruptcy and a foodborne illness outbreak, a popular Mexican restaurant is looking to make a comeback.

Hormel Foods, who owns the trademark, worked out a deal to bring Chi-Chi’s back to life after every location closed in 2004. The company initially closed its doors after a bankruptcy which coincided with a foodborne illness outbreak that was linked back to them.

The son of the founder of Chi-Chi’s, Michael McDermott, said in a release that he hopes to honor his family’s legacy by combining the classic Mexican restaurant with modern influence.

It would NEVER be admitted by anyone at Hormel or the original Chi-Chi’s team that the 2024 election results played a role in their decision to reopen… but it definitely did.

We’re back, baby!

]]> https://americanpoliticalreport.com/trump-effect-popular-mexican-restaurant-set-to-return-20-years-after-closing-all-us-locations-2/feed/ 0 229745 Trump Effect: Popular Mexican Restaurant Set to Return 20 Years After Closing All US Locations https://americanpoliticalreport.com/trump-effect-popular-mexican-restaurant-set-to-return-20-years-after-closing-all-us-locations/ https://americanpoliticalreport.com/trump-effect-popular-mexican-restaurant-set-to-return-20-years-after-closing-all-us-locations/#respond Thu, 05 Dec 2024 09:12:18 +0000 https://americanpoliticalreport.com/trump-effect-popular-mexican-restaurant-set-to-return-20-years-after-closing-all-us-locations/ 20 years after filing for bankruptcy and shutting down all of their locations, Chi-Chi’s Mexican Restaurant is set to make a comeback. Does this have anything to do with the results of the 2024 presidential election?

According to WJAT:

Twenty years after closing all of its locations due to bankruptcy and a foodborne illness outbreak, a popular Mexican restaurant is looking to make a comeback.

Hormel Foods, who owns the trademark, worked out a deal to bring Chi-Chi’s back to life after every location closed in 2004. The company initially closed its doors after a bankruptcy which coincided with a foodborne illness outbreak that was linked back to them.

The son of the founder of Chi-Chi’s, Michael McDermott, said in a release that he hopes to honor his family’s legacy by combining the classic Mexican restaurant with modern influence.

It would NEVER be admitted by anyone at Hormel or the original Chi-Chi’s team that the 2024 election results played a role in their decision to reopen… but it definitely did.

We’re back, baby!

]]> https://americanpoliticalreport.com/trump-effect-popular-mexican-restaurant-set-to-return-20-years-after-closing-all-us-locations/feed/ 0 229696 Rising Costs, Shrinking Consumer Spending and Changing Customer Habits Push More Restaurants Into Bankruptcy https://americanpoliticalreport.com/rising-costs-shrinking-consumer-spending-and-changing-customer-habits-push-more-restaurants-into-bankruptcy/ https://americanpoliticalreport.com/rising-costs-shrinking-consumer-spending-and-changing-customer-habits-push-more-restaurants-into-bankruptcy/#respond Sat, 26 Oct 2024 05:39:44 +0000 https://americanpoliticalreport.com/rising-costs-shrinking-consumer-spending-and-changing-customer-habits-push-more-restaurants-into-bankruptcy/ (Natural News)—At least 10 major restaurant chains have filed for Chapter 11 bankruptcy this year due to rising costs, shrinking consumer spending and the disappearance of pandemic-era financial support.

In August alone, three notable restaurant chains sought bankruptcy protections. Mediterranean fast-casual chain Roti filed on Aug. 23, citing challenges from high operating costs and decreasing foot traffic in downtown areas. Earlier that month, Buca di Beppo and World of Beer also turned to Chapter 11 to restructure their businesses amid rising labor costs and inflationary pressures.

In June, Rubio’s, a fast-casual chain known for its fish tacos, filed for bankruptcy protection, citing the burdens of higher labor costs and dwindling lunchtime crowds due to the popularity of hybrid and remote work patterns cutting into sales. Melt Bar & Grilled, a Cleveland-based grilled cheese chain, also sought Chapter 11 protection after its restaurant count shrank to just four locations. Kuma Holdings, the parent company of burger chain Kuma’s Corner, also filed for bankruptcy protection that same month.

In May, Red Lobster, once a seafood giant, also filed for bankruptcy protection, citing its struggles with high leasing costs, increased competition and poor strategic decisions, like its ill-fated “endless shrimp” promo for $20 that cost the company millions. (Related: BANKRUPTCY BOOM: U.S. saw 70 major bankruptcies in just 4 months, the third worst start of year since 2000.)

In April, Tijuana Flats, a fast-casual Tex-Mex chain, also filed for Chapter 11 bankruptcy. At the time, the Tijuana Flats also announced new ownership under Flatheads LLC and the closure of 11 restaurants as part of its restructuring. Sticky’s Finger Joint, a chicken-tender chain, also declared bankruptcy that same month due to rising costs, lingering effects from the pandemic and legal issues from a trademark dispute with rival Sticky Fingers.

In February, Boxer Ramen, a Portland-based ramen chain, filed for bankruptcy and closed all four of its location by late April after more than a decade in business.

More restaurants and food chains are expected to follow before 2024 ends.

Bankruptcies nearly double in 2024 due to broader economic challenges

According to Jonathan Carson, co-CEO of bankruptcy services and technology firm Stretto, major restaurant companies have been filing for Chapter 11 bankruptcy due to rising labor costs, inflation and shifting consumer behavior. He explained that although these numbers remain lower than the peak of the pandemic, when nearly three dozen major franchises went bankrupt, the current economic environment is still presenting a unique set of challenges.

“In this situation, a challenging economic environment, post-pandemic recovery issues, rising labor costs, changing consumer habits and inflation have caused more restaurants to struggle in 2024,” Carson said in an interview with Fox Business, noting those issues have also impacted other sectors of the economy.

Carson also stated that the shift in consumer spending is a growing concern. With more consumers burdened by student loan debt, mortgage debt and credit card debt, spending patterns have changed. “The numbers are staggering and rising, and high interest rates don’t help when it comes to the health of the consumer,” Carson said. “The consumer is in a rough spot.”

Industry experts expect this trend to continue, with more restaurant chains likely to file for bankruptcy as they navigate an increasingly volatile market.

Watch this video about food conglomerates going bankrupt.

This video is from Thisisjohnwilliams channel on Brighteon.com.

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