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When brands go bust, local franchises suffer.
In 2008 alone, seven of America’s best-known brands in the food industry have filed for bankruptcy in reaction to the slowing economy — leaving their local franchises fighting to stay afloat.
In a new report from CNN, the pattern is clear.
From the beloved Mrs. Field’s Cookies and Old Country Buffet, to Cork and Olive wines and even Fatburger, things aren’t looking good for the food industry — either on a national scale, or locally.
In the Valley, just in the last few months, we’ve seen record numbers of restaurants closing their doors. Just today, we announced that Second Line Caribbean Cuisine put up a closed sign and disconnected their phone line — and yesterday it was Canal’s announcement that it would close Saturday.
Earlier this summer, it was Tapino, Fine’s Cellar and El Chorro Lodge.
This has been a trend on Chow Bella for even longer, and, as of yet, there’s no end in sight.
