There is not really much I can add to this story from MSNBC, other than to say that at one time or another I've dined at about seven of the ten restaurants on the list. It's true that all were in trouble even before the economic crisis hit, and not one is really any great loss...other than for those employed there, that is.
There is a school of thought that says the restaurant business is always a good business — people need to eat. A glance at the sales of many of America’s largest restaurant chains over the past decade quickly dispels this myth. Using data provided by food industry research firm Technomic, 24/7 Wall St. has looked at the ten restaurant chains with the greatest decline is sales from 2001 to 2010. In every case, sales have fallen 60 percent or more.There is more detail at the link, but here are the unlucky ten:
“Many prominent chain restaurant brands have lost ground with sales over the last decade. As many American consumers gravitate toward a more contemporary dining experience and more exciting menu options, traditional restaurant chains are losing relevance,” Darren Tristano, Executive Vice President of Technomic, told 24/7 Wall St. in an e-mail. “Today’s successful restaurant operator is challenged with keeping their menu fresh, their customers’ experience exciting and their concept contemporary.”
1. Bennigan’s Grill & Tavern
2. Ground Round Grill & Bar
3. Bakers Square
4. Damon’s Grill & Sports Bar
5. Don Pablo’s
6. Gloria Jean’s Coffees
7. Big Boy
8. Tony Roma’s
9. Country Kitchen
10. Black Angus Steakhouse
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