How Many Restaurants Closed This Year?


************************************************The actual article mentioned did not help me.  I was hoping for a comparison with the 12 months prior and if an increase since the economy has crashed.  Restaurant industry did well during the downturn in spite of all the complaints or at least did in San Francisco.  The downturn was not a total disaster and many new places opened mostly because commercial real estate in San Francisco is even more worthless than before and easy to get leases that should be impossible in good economy.  San Francisco and Oakland are grounds for many restaurant experiments disguised as cool projects by local and national names.  One may say how do we know the recent openings are not a house of cards that collapses with another turn in the economy and the answer is obvious.  The whole industry has been a house of cards.  If consumer spending confidence turns, the restaurant industry is right after retail to take huge hits.  

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The report that 4,000 restaurants have closed across the country in the past year made us wonder how New York is doing, so we crunched some numbers with MenuPages. Since the beginning of the year, 395 restaurants out of 6,600 listings have closed, or about 6 percent. During the same period a year ago, only 4.6 percent of the restaurants in the database had closed. (Now that MenuPages covers Brooklyn, there are listings for 8,633 restaurants.) Considering all the closings we’ve covered this year, the slump doesn’t sound that dire, especially since new spots open every day. Some older restaurants even told Crain’s that business is up. Did somebody say “Downturnaround”?

http://newyork.grubstreet.com/2009/07/how_many_restaurants_closed_th.html

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