The number of restaurants in the country is shrinking. Total restaurants in the US fell by 9,450 units, or 2%, according the the NPD Group, which I call the Elias Sports Bureau of consumer statistics.
Getting hit the hardest, as usual, are independent operators. The report says that of the 9,450 closing, 8,650 are independently operated. Meanwhile, just under 6,000 are full-service restaurants, while the rest are quick service.
And we thought that restaurants were the category out there expanding the most. And there are lots of restaurants out there expanding. Of course, most of them are already large chains.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
