Finally, An Upside To The Current Economic Crisis
Today's New York Times has some very good news regarding our current economic woes. It appears that chain restaurants are taking it on the chin and are being forced to close restaurants. The article notes that the Applebee's at Times Square is having a hard time, what with the economic times as well as the competition from fellow casual chain eateries such as ESPN Zone, Dave & Buster’s, Chevys and Dallas BBQ.
These chain restaurants, like many businesses, overexpanded in the times of freely available credit. There were too many of them even when times were good. And now, business is slow at many of them.
When I travel, one thing I NEVER do is to look for a chain restaurant to eat at. Particularly Applebee's, at which I've had the misfortune to eat 3 times. Who would go to Times Square and eat at an Applebee's?
It will be a good thing if that place doesn't survive.