TGI Fridays files for bankruptcy

Someone on here hit on the biggest issues with all restaurants, it's the rents. Most of these larger cahins sign 15 to 20yr leases which require them to also pay taxes and insurance. If rent to sales goes about 10% they are in trouble. Most, if not all of these types of leases have 3% to 5% yearly increases, so when a store is in its 12th to 15th year, rent is sky high as are the taxes as they increase with the building's income. Chains will not own the property becuase its an accounting nightmare to take into consideration appreciation, if any. Rent is an income reduction, so its a write off.

Labor is also stupid high. I buy and sell a lot of QSR (quick service resstatuarants) and can tell you that for anyone except the high volume stores, they are paying so much in labor that one particualt chain told me they need to sell a burger at $28 just to break even.

Food costs are out of site, think of what you pay at home today versus a few short years ago. 5lbs of chicken wings for example used to cost about $10 a bag, now they push $20. Ground beef is roughly up $1.50 per lb too. Why? Its our economy in general. Labor, fuel, maintenace, etc.....

Profit margins are around 3% too. It's an extremely stressful and low return business. 10+ years ago when I was working at the (newest at the time) baker's square we needed to make at least $3000 in profit per day just to keep the lights on.
 
Private equity raiders have taken their toll as well. The flapping gums in the media blamed Red Lobster’s bankruptcy on endless shrimp but that’s not even remotely true. The company that bought Red Lobster sold the real estate out from under them which forced store owners to begin paying rent on buildings where they didn’t have to before. A similar kind of asset stripping is what put the final nail in Sears’ coffin IIRC.
 
And we'll probably see more restaurants fall apart because of High Gas prices to transport their warehoused processed foods! And that's really what these chains offer is processed food with a lot of crap! As many have already said quality is down, labor quality is down meaning they don't know what the hell they're doing!
Prices are too high, gas is too high, we're going to hell in a handbasket and Esther is driving in the truck!!
Oh! and sorry to be negative!
Come up to the frozen Northeast. Only $2.649 a gallon here. Refineries can blend in the high RVP volatile refuse in winter.

I think most of the large reefer box trucks run Diesel. That juice was insane for a couple years. Still a bit too high at $3.39/ga
 
I had cracker barrel tonight.. first time I went in years because we always get bad food(3 locations near me)

Well I had turkey fried steak with mashed potatoes and the potato casserole. . yeah not the greatest choices.

The turkey needed a steak knife to cut.. it was that tough.. but edible.
The mashed had huge eyes and what appeared to be nearly raw potato chunks.
the potato cassarole was so undercooked it looked literally half cooked and the potato shreds were not even close to cooked.

Asked for fries to replace the casserole.. they came out 10min after I was done eating.. were grease soaked and not crispy at all (steak fries)

Yep maybe ill go back in 5 years if they are still there.

We were going to stop at McAlisters but wife wanted cracker barrel... blah.

The MIL likes TGIF so I've been there a couple times every year.. the food varies from almost good to non-edible.
Ribs are usually a good choice but their sides are a crapfest.
We had a horrible experience at Cracker Barrel about 5 years ago and have never returned.
 
I am also another big fan or Texas Roadhouse. I also go to them when I am out of town and always a good experience.
I see that they are very popular near me. I went once and was disappointed. The LoneStar Steakhouse near me was very good but they went out of business.
 
I am also another big fan or Texas Roadhouse. I also go to them when I am out of town and always a good experience.

I always end up taking half my order home because the rolls and cinnamon butter are just too delicious to not eat three baskets of them.

Let's talk about buffalo wild wings. Now that's a place that needs to go away. None of their wings are good.
 
Private equity raiders have taken their toll as well. The flapping gums in the media blamed Red Lobster’s bankruptcy on endless shrimp but that’s not even remotely true. The company that bought Red Lobster sold the real estate out from under them which forced store owners to begin paying rent on buildings where they didn’t have to before. A similar kind of asset stripping is what put the final nail in Sears’ coffin IIRC.

Read up on Steward Healthcare and see what they did.

Unfortunately this crap is legal….
 
Simple math -- most things with inflation went up to 60% in some cases over the last 4 plus years. If your not making 80 grand in your household these days --- your not eating out that often anymore. TGI and most of there competitors are in "survival mode" these days. I pray for things to turn around.
MA is a bubble, and I know that, but people are eating out all the time here—just at better restaurants than TGIFs. Our locally owned and slightly more chic restaurants with better ambiance and food are super busy all the time. The local TGIF is dead all the time.
 
MA is a bubble, and I know that, but people are eating out all the time here—just at better restaurants than TGIFs. Our locally owned and slightly more chic restaurants with better ambiance and food are super busy all the time. The local TGIF is dead all the time.
You get awesome reviews from the Phantom Gourmet.
 
What happened ?

I’ve never been there before.
We sat down, ordered our breakfast and waited. About 15 minutes later another couple came in, ordered their breakfast.. They received their food, ate it, and got the bill, and we still hadn't received our food. I asked to speak with the manager about this. The manager never came over but the waiter said the manager was bringing our food right out. I said it was too late for that and left. The manager was also very mean and condescending to an employee.
 
I always end up taking half my order home because the rolls and cinnamon butter are just too delicious to not eat three baskets of them.

Texas Roadhouse is a go to when i have to eat out (as are cheddars and Chilis and of course waffle house)
Let's talk about buffalo wild wings. Now that's a place that needs to go away. None of their wings are good.
Well the dry rub lemon pepper isn't awful, but it's a bad sign when the burger is one of the better things at a wing place. it's way way way down on my list.


To other comments on restraints in general, while traveling if i have time id rather sit at one of these types of places because the food is usually better and not much more expensive than fast food.

RE Ruby Tuesday - i also thought they were out of business but there is one in our airport as airport food goes its up the scale...
 
The Texas Roadhouse meat selection in Tracy just for @Pablo

Doesn't look like there is any marbling on any of those unless the camera is off. Not worth the price.

Texas Roadhouse is always 50/50. I ask for med-rare and get shoe leather. Wife asks for well done and gets a blue mooing cheeseburger. I have a better chance getting a properly cooked steak at Applebee's without the exorbitant cost.

Texas Roadhouse is meh like anything else that's a chain these days.
 
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Doesn't look like there is hardly any marbling on any of those unless the camera is off. Not worth the price.
I think you mean to say it looks like there is hardly any marbling. They sell what their customers want. California is not the deep-fried South. If you go to Harris, House of Prime Rib, Bobo's, etc, anybody can get the fattest heartstopper they may want.

Texas Roadhouse is always 50/50. I ask for med-rare and get shoe leather. Wife asks for well done and gets a blue mooing cheeseburger. I have a better chance getting a properly cooked steak at Applebee's without the exorbitant cost.

Texas Roadhouse is meh like anything else that's a chain these days.
It's a chain for people who want to fill up cheaply on large plates. It's for gourmands, not gourmets. Of course it's pretty bad. Applebee's was horrendous decades ago. I'd rather eat a roller dog from 7-Eleven.
 
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I think you mean to say it looks like there is hardly any marbling. They sell what their customers want. California is not the deep-fried South. If you go to Harris, House of Prime Rib, Bobo's, etc, anybody can get the fattest heartstopper they may want.


It's a chain for people who want to fill up cheaply on large plates. Of course it's pretty bad. Applebee's was horrendous decades ago. I'd rather eat a roller dog from 7-Eleven.

Correct, and if you are out getting a steak at a steakhouse it better be a prime cut for the price and those definitely don't look the part doesn't matter where you're located.
 
Correct, and if you are out getting a steak at a steakhouse it better be a prime cut for the price and those definitely don't look the part doesn't matter where you're located.
No argument on that. Proper steakhouses and chains do not have the same clientele or offerings. This thread started out with TGIF and moved on to TR - not exactly paragons of quality food. Don't expect me to show Wagyu* or just a fine piece of marbled meat from the selection at TR.

*I'll eat something like that once a year. I'm in firm disagreement with Julia Child's First Rule.
 
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