^
Keep New Times Free
4

Economy Hitting National Brands, Local Restaurants Alike

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.

I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Phoenix and help keep the future of New Times free.

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.

Keep Phoenix New Times Free... Since we started Phoenix New Times, it has been defined as the free, independent voice of Phoenix, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Phoenix with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the New Times community and help support independent local journalism in Phoenix.

 

Join the New Times community and help support independent local journalism in Phoenix.