Ruby’s Diner, a 1950s-themed concept based in Newport Beach, California, filed for federal bankruptcy protection on September 5 in Santa Ana. Ruby’s Diner, Inc., the operator and franchisor of the 32-unit chain, of which four are company run, said it has also entered into a plan support agreement with Steven L.
TDn2K’s latest industry snapshot returned a promising figure—same-store sales growth of 1.8 percent in August, which marked the highest growth rate since September 2015. However, this is one report worth keeping in perspective.
“Top Chef” alum and celebrity personality Mike Isabella filed for Chapter 11 bankruptcy protection September 6 in federal court. The chef’s restaurant group, Mike Isabella Concepts, was once a $30 million empire comprised of more than a dozen restaurants, multiple stands at Nationals Park in Washington, D.
On the heels of a challenging quarter, where same-store sales dropped 2.6 percent and guest counts fell 0.7 percent, Red Robin announced Tuesday afternoon that it’s making a C-suite change. The 572-unit burger chain said it is replacing chief operating officer Carin Stutz with Guy Constant.
ARC Group, which changed its name from American Restaurant Concepts in 2014, is dealing again. After announcing a complex plan to buy Tilted Kilt in June, the owner of Dick’s Wings & Grill said August 27 it has entered into an agreement to acquire the Fat Patty’s franchise.
The U.S. restaurant count reached 660,755 in spring of 2018, a 1 percent decrease in units from a year ago, based on a recent restaurant census conducted by The NPD Group, a leading global information company.
Chief executive Denny Marie Post called Red Robin’s recent results “profoundly and personally disappointing,” Tuesday afternoon as the brand recapped second-quarter results. Same-store sales declined 2.
For years, large restaurant chains have been getting a leg up on the competition by using data science and data management to more effectively run operations. But as mobile and cloud technology become more widely available and affordable, micro-chains and even single-unit restaurants are embracing big data to take the guesswork out of management and stay competitive.
There was a lot at stake for Chili’s in fiscal 2017. CEO Wyman Roberts went as far as calling it “an important and pivotal year for our business,” during an August 14 conference call. The brand was carrying a streak of negative same-stores into the calendar, with a menu too broad, operations too complex, LTOs that hurt execution, and technology that failed to leverage Chili’s standing or core strengths.
Twin Peaks is continuing to accelerate its success with record-breaking comparable sales growth and affirmative plans for expansion.On Monday, the Dallas-based company announced comparable sales and traffic that show the brand far out-performing the casual dining sector, according to sales data from Black Box Intelligence, a restaurant industry financial performance benchmarking company.
There is no shortage of changes taking place at Kona Grill. The latest is the promotion of Jim Kuhn to president and chief executive officer, a move the company announced August 9 along with its second-quarter results.
TDn2K’s July snapshot showed growth for chain restaurants, but the overall picture was a bit concerning. The industry posted same-store sales gains of 0.5 percent during the month. However, this was measured against a very weak July 2017—the third slowest month in the past three years in fact.
RM Holdco LLC, operator of the El Torito and Chevys Fresh Mex brands, announced August 6 it has filed for bankruptcy and plans to sell the company to Z Capital Group LLC, one of its largest shareholders, in a deal valued at $46.
The Cheesecake Factory’s second-quarter earnings may have been disappointing, but the market’s reaction was far more dramatic—to the point that it experienced the worst single-day trading plunge since 1999 on August 1.