Even budget standby Denny's said in October that it would close about 150 stores in the next two years, citing "choppy economic conditions" and reluctance of cost-conscious consumers.
Sit-down chain restaurants may be the quintessential American business, beginning with the expansion of Howard Johnson's after World War II as families got in the car and started to travel. But the economy is challenging the business model. Although inflation is slowing, reticent consumers are eating more at home or at lower-cost fast-food restaurants, where the average check is $7.92, about half the average check at a sit-down restaurant, according to CREST, a database from consumer-insight firm Circana. Many sit-down (or full-service) chain restaurants came into this economic climate deep in debt, and are now struggling to stay afloat.
Diese Geschichte stammt aus der November 25, 2024-Ausgabe von Time.
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Diese Geschichte stammt aus der November 25, 2024-Ausgabe von Time.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Zak Brown The McLaren Racing CEO on Formula One in the U.S., his team's chase for a championship, and the future propulsion of the automobile
The McLaren F1 team is in the running for its first Formula One constructors' championship since 1998. What's that like? I'm kind of living on the edge of my seat. That's why sport is always going to be one of the most engaging forms of entertainment for people around the world.
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