The New York State Restaurant Association (NYSRA) announced today that it has partnered with On Deck to offer financing solutions to the hospitality industry across New York State.“Restaurateurs have historically faced challenges accessing capital, which is why we’re so excited about our partnership with On Deck,” says Rick Sampson, New York State Restaurant Association president and CEO.
Star Buffet, Inc. announced on May 31 that the company has sold its former JJ North's Country Buffet in Yuma, Arizona. Proceeds from the real estate sale were used to repay Wells Fargo Bank, in accordance with the company's Second Amended Joint Plan of Reorganization which was approved by the United States Bankruptcy Court for the District of Arizona on December 17, 2012.
Driven by higher same-store sales and an improving outlook among restaurant operators, the National Restaurant Association’s Restaurant Performance Index (RPI) hit a 10-month high in April. The RPI – a monthly composite index that tracks the health of and outlook for the U.
Smithfield Foods, Inc. and Shuanghui International Holdings Limited today announced that they have entered into a definitive merger agreement that values Smithfield at approximately U.S.$7.1 billion, including the assumption of Smithfield's net debt.
According to GuestMetrics, kids-specific items outpaced sales of the overall food category during the first quarter of 2013 in full-service restaurants.“While kids-specific food items are still a fairly small portion of the overall food category in full service restaurants with about 2 percent of total sales, in analyzing the over 600 different types of kids-specific items we track in our system, our data indicates food geared specifically towards children solidly outperformed the growth of the overall food category,” says Bill Pecoriello, CEO of GuestMetrics LLC.
Visits to U.S. restaurants were stable in the first quarter of 2013 compared to the traffic gains encouraged by mild winter weather in the first quarter last year, reports the NPD Group, a leading global information company.
Capital Access Network (CAN) has added $165 million to its line of credit from a syndicate of premier financial institutions, including Capital One, Amalgamated Bank, Regions Bank, Capital Source, and AloStar.
At a special session for its Foodservice Planning Program, Technomic shared its latest expectations for foodservice industry performance, by segment, through 2014. Since releasing its last forecast in January 2013, the firm has seen slight slippage in 2013 growth expectations for the overall industry, from a nominal 3.
Diverse, adventurous, socially conscious, fun—Kerbey Lane Cafe embodies what's best about Austin, Texas. They opened the first store in a small house on Kerbey Lane in 1980 when they sensed a market for affordable food cooked with fresh, locally grown ingredients.
DineEquity Inc. the parent company of Applebee’s Neighborhood Grill & Bar and IHOP Restaurants, released its financial results for the 2012 fiscal year which ended December 31 and announced projected development plans.
Restaurateurs are searching for ways to mitigate increased costs when the Patient Protection and Affordable Care Act takes effect in 2014 and any restaurant with 50 or more full-time employees is required by law to comply.
Rob Green, director of the National Council of Chain Restaurants, called last year’s drought the worst in 50 years. The corn shortage, among other issues, affects the costs of proteins from chicken wings to ground beef.
The cliché that too many cooks may spoil the soup ironically doesn’t always apply to restaurant operations. A lot of cooks—and in this business those cooks can be restaurant operators, investors, or indeed the chefs—can make the restaurant run more smoothly, have greater financial backing, and lead to expansion.
Austin, Texas-based SalesVu has released its latest mobile payment and point-of-sale application, SalesVu 2.2 for iPhones and iPads.This new update is intended to replace costly server-based POS solutions with a more affordable and reliable option.
Continuing to defy an economic crisis that has dragged countless restaurant concepts into stagnation or even recession, East Coast Wings & Grill remains on a rapid path to growth.Having recently completed its 35th consecutive quarter of same-store sales increases, the North Carolina–based chain has now been approved for a franchisee lending program created by Franchise America Finance and The Bancorp Bank, a subsidiary of The Bancorp Inc.