In October, Denny’s announced it will close 150 locations by the end of 2025. And Red Lobster filed for bankruptcy protection in May after closing dozens of stores
It is a trend in America…….
AI: Economic Challenges: Inflation, rising food costs, and higher wages are squeezing profit margins. The pandemic also exacerbated any financial troubles restaurants were already experiencing. Many chains have struggled to balance these increasing expenses with maintaining affordable prices for customers.
According to a 2024 Popmenu study, families spend 10% less of their food budget on restaurants than they did in 2022. A year before the Popmenu study, a National Frozen & Refrigerated Foods Association survey found that four out of five people eat at home for more than half their meals.
