Persistent Economic Pressures, Changing Consumer Habits Send More Restaurants Into Bankruptcy

It’s been a rocky year for the restaurant industry, with rising costs due to inflation and changing consumer habits driving a slew of chains with household names into Chapter 11 bankruptcy. According to those who follow the industry, there is no definable silver lining ahead for an industry in deep trouble. “Most restaurants lose money, and there’s a reason for that. It’s a hard business with low margins and trends that are hard to navigate,” Jonathan Carson, the co-CEO of market strategy company Stretto, told The Epoch Times. “When you add higher prices and a continually and increasingly overburdened consumer balance sheet, I think it makes the industry prime for restructuring,” he said....