Food & Beverage News

Back in March, the COVID pandemic hit Chuy’s as hard as any other full-service brand. The chain was forced to furlough 80 percent of its hourly staff and operate off-premises with limited menus at 92 of its 101 locations. Same-store sales reached a low of 67 percent in the week ending March 22. But as dining rooms…

As the end of Chicago’s patio season approaches, restaurant leaders are urging local officials to take a cue from Northern European cities and Colorado ski towns to encourage outdoor seating even as the weather turns cold. Sam Toia, president and CEO of the Illinois Restaurant Association, said the trade group has been having conversations with…

Robert Thompson has resigned as CEO of Punch Bowl Social, the food-and-entertainment concept he founded eight years ago, to form an innovation lab for developing products aimed at millennials and Gen Zers. His resignation is the latest twist for a venture formerly hailed as one of the restaurant industry’s hottest concepts. Thompson had successfully pitched…

Famed chef and restaurateur Thomas Keller on Wednesday announced that one of his newest restaurants is closing permanently because of “irreparable damage” from the pandemic: TAK Room in New York City’s Hudson Yards complex. His Thomas Keller Restaurant Group is also shuttering a location of Bouchon Bakery that was also in the sprawling 18 million-square…

Red Robin Gourmet Burgers reported a net loss of $56.3 million for the second quarter, a plunge the casual-dining company said was driven by multiple operational shifts tied to the COVID-19 pandemic. Same-store sales decreased 41.4% for the quarter, driven by a 38.5% decrease in guest traffic and  a 2.9% decrease in average check. The latter…

Despite the ongoing pandemic, consumers are warming more to the notion of dining out — something they yearn to do more — but more than two-thirds say they still prefer cooking and eating at home out of concern about exposure to coronavirus, according to new research by global consulting firm AlixPartners. Adam Werner, AlixPartners managing…

As the restaurant industry attempts to slowly recover from the wide-ranging effects of the ongoing coronavirus pandemic, AS\\according to S&P Global Market Intelligence the odds that a restaurant will default on its debt fell to 10% in July from 35% in April. For larger chains, performance and financial stability is almost where it was a year…

With the pandemic showing little sign of letting up, consumers — perhaps, families most especially — are seriously missing being able to partake in the simple pleasure of having someone else cook, serve and clean up dinner. Now that many states have reopened, restaurant operators hoping to tap into that pent-up demand are hustling to…

Brinker International, Inc. has signed a letter of intent to acquire 116 Chili’s Grill & Bar restaurants from ERJ Dining. Louisville, Ky.-based ERJ Dining has been a franchisee of Brinker’s for the past 14 years. According to Brinker, the Chili’s restaurants primarily are located in the Midwest and generate approximately $300 million in annualized revenue.…

FAT (Fresh. Authentic. Tasty.) Brands announced plans to acquire the Johnny Rockets fast-casual burger chain from an affiliate of private equity firm Sun Capital Partners Inc. for $25 million. FAT Brands is a global franchising company that acquires, markets and develops fast-casual and casual dining restaurant concepts around the world. Johnny Rockets was founded in…