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#2236 StephanieL

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Posted 27 April 2017 - 06:57 PM

I didn't know that Home had closed too.  Both closings are really sad.


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#2237 wingding

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Posted 27 April 2017 - 09:29 PM

Don't blame this on the minimum wage raising,please. It is about huge rent increases and Too Many Restaurants. There will be,many more closings to come.....


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#2238 Wilfrid

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Posted 27 April 2017 - 10:57 PM

Last there in 1998 is my guess.

That little street has some real hold-outs. Cornelia St Cafe, Home, Le Gigot, Pearl's. Going from memory, tell me if I'm wrong.

#2239 Suzanne F

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Posted Yesterday, 03:29 AM

Apparently Cornelia Street Café has been hit with a huge rent increase, too. (Saw that in the linked-to piece on Pó.)


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#2240 AaronS

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Posted Yesterday, 03:36 AM

that piece also quotes mario batali saying that between 15 and 20% of "unaffiliated" restaurants will close in the next two years.

#2241 Tubbs

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Posted Yesterday, 03:19 PM

Is 15-20% in two years a high number? That's on average less than 1/10 restaurants closing each year. That doesn't seem too high to me.



#2242 AaronS

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Posted Yesterday, 03:58 PM

saying 20% of restaurants aren't currently viable seems like a high number to me but maybe you're right.

#2243 Wilfrid

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Posted Yesterday, 04:37 PM

I guess the interesting thing would be to know whether that's a higher percentage than 5, 10, 15 years (etc) ago.



#2244 Anthony Bonner

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Posted Yesterday, 06:11 PM

I'd guess 10% annual closure is normal
Why not mayo?

#2245 Lex

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Posted Yesterday, 07:50 PM

I googled "NYC restaurant failure rate" this morning and got an 80% figure over a 5 year time period.  The study was done around 2010.


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#2246 StephanieL

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Posted Yesterday, 10:53 PM

Last there in 1998 is my guess.

That little street has some real hold-outs. Cornelia St Cafe, Home, Le Gigot, Pearl's. Going from memory, tell me if I'm wrong.

 

Home is gone.


"Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires." --John Steinbeck

 

"Insanity runs in my family.  It practically gallops."--Arsenic and Old Lace