Fri 6 Feb 2009
Over the course of the last 4 weeks, I have remarkably fewer places to eat out. A few burned down. Another closed suddenly. I’ll have to get my Indian across the river as well.
The underlying denominator in all these is the economic downturn. In the case of the fire it’s unsubstantiated. I’m generally very skeptical of restaurant fires especially during hard economic times. I’ve seen too many restaurants burn down just at they were suddenly going to relocate or go under. That’s just the conspiracy theorist in me.
The restaurant closings, however, no if and but about it. If there’s anything that’s discretionary, it’s dining out. The first restaurant closing I mention, Excelsior, was a high end restaurant that caters to expense accounts. I don’t have an expense account, but had been going often as they were offering some fantastic deals. I was able to walk out with a half dozen oysters on half shell, 2 beers, and a entree for a little under $20 not including tip. The deals should’ve been a giveaway. No restaurant doing great business runs specials, especially a high end one such as Excelsior.
I expect more restaraunts to close in these difficult economic times. I also expect that many that don’t to offer some concessions on prices. I have already noticed that many national chains have already done so in the past year. Commercials touting price seem far more common as well. I have visions of Apple Grilled Bacon wrapped sirloin, and I live about 2 states from the closest Golden Corral. For those who are gainfully employed, the selection may be meeker but the value might be greater.
