George_Mills
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It appears that these outfits over reached and rather than grow slow and sure they borrowed heavily against the strong segments of their business to finance expansion or perhaps fund new ventures. There is a lesson there for the rest of us.
Bloomberg News reports that Uno Restaurant Holdings – which operates Pizzeria Uno – is the latest in a string of restaurants that can’t stay afloat as consumers reverse splurge on their recession diets. It follows Bennigan’s and Steak & Ale among those national restaurant chains that couldn’t feed banks’ hunger for loan repayment.
In addition to Bennigan’s, Bloomberg reported that a big Pizza Hut chain filed for bankruptcy this month – “Ohio-based Midland Food Services LLC, the operator of 92 Pizza Hut restaurants.”
George Mills
Bloomberg News reports that Uno Restaurant Holdings – which operates Pizzeria Uno – is the latest in a string of restaurants that can’t stay afloat as consumers reverse splurge on their recession diets. It follows Bennigan’s and Steak & Ale among those national restaurant chains that couldn’t feed banks’ hunger for loan repayment.
In addition to Bennigan’s, Bloomberg reported that a big Pizza Hut chain filed for bankruptcy this month – “Ohio-based Midland Food Services LLC, the operator of 92 Pizza Hut restaurants.”
George Mills
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