Closings

Are Area Restaurants Closing at a Faster Rate?

Photo: Kirsten Henri

A prolonged recession, escalating debts and the failure to meet customers changing tastes are a few of the reasons why so many of the region’s restaurants are closing at such an alarming rate, according to the Philadelphia Business Journal. Citing a recent string of closings - ranging from Center City’s Chew Man Chu to Fort Washington’s Allison Two - the pace at which restaurants fold seems to be gaining. Some say its impatient restaurateurs who are pulling the plug before their ventures find their proper footing. Others suggest lack of funding prevents them from absorbing initial loses after opening. [Philadelphia Business Journal]

Are Area Restaurants Closing at a Faster Rate?