Bob Evan’s, Old Country Buffet, Cosi, Ruby Tuesday, Logan’s Roadhouse: these are just a few of the large restaurant chains that have closed locations and/or filed for bankruptcy protection in 2016 alone. These eateries generally have two factors working in their favor: name recognition and stores in high-traffic areas. So why are they doing so poorly? [More]
Sometimes you just don’t know what you want for dinner. For that reason, we have buffets. But there will be a fewer options for some diners, as Ovation Brands, the operator of restaurants like Hometown Buffet, Ryan’s, Fire Mountain, and Old Country Buffet, announced the closure of 74 underperforming locations. [More]
At the beginning of this week, everything seemed pretty normal to customers and employees of Tim Hortons shops in New York state and in Maine. Then restaurants shut down abruptly in both regions, with no warning given to customers or employees. What happened? Tim Hortons corporate up in Canada isn’t really giving a reason for the closings. [More]
Consumers’ Changing Banking Habits Led To 1,400 Bank Of America Branches Shuttering, More Cuts To Come
Over the past several years, Bank of America has revamped the way it provides banking services in an effort to cut costs and respond to consumers’ changing banking habits. Those operation modifications have not only included shutting down some drive-thru windows, but the closure of nearly a fifth of the company’s branches. [More]
Going on a reality television show likely won’t fix all of your restaurant’s shortcomings, even if a hot-headed chef uses all the profanities in the world. Just ask the owners of half the restaurants to be featured on Gordon Ramsay’s now-defunct Kitchen Nightmares. Here’s a hint, their eateries are now defunct, too. [More]
Tweeter is closing 49 locations, joining the ranks of stores capitulating to competition from Best Buy and Walmart. The restructuring will leave the consumer electronics retailer without a presence in California, Tennessee, Alabama, or New York. According to CEO Joe McGuire, surviving Tweeter locations will sport Consumer Electronics Playgrounds offering high-end home theaters.
“Since our Playground stores are clearly resonating with consumers and articulate our vision so well, we will continue to execute this concept in our remaining 97 traditional stores by taking what we have learned from our current Playground stores and rolling it into our existing fleet.”
Stores on the chopping block will immediately offer liquidation sales. The complete list of closures, inside.