CJ: Upscale Restaurants Feel Economy's Bite

http://www.courier-journal.com/article/20081105/NEWS01/811050727/1008

Interesting article regarding the impact of the economy here -- interesting primarily because of the many comments from the owners.

Thanks for posting the link. It's interesting in that we have cut back to a degree in terms of dining out to save a bit. On the other hand, we eat better at home than we ever have. I wonder if that's just us or is it a broader trend?

This article reads more like a response to Marsha's article in LEO's Dining Guide last week more than original reporting. Still, it's important that people know what's going on in the restaurant business right now, so it's okay I guess.

Just read it - what troubles me most is Anthony Lamas' quote that he expects 6 closings after the holidays. The "I'm not going to say names" part of the quote tells me he knows who is closing, and that this is more than a "prediction. . ."

I'm not going to name names, either, but on shear speculation alone I can think of about a half dozen places that might close after the holidays and it wouldn't really surprise me. That said, I'm sure Anthony knows what he is talking about.

The whole situation really sucks.

Ouch!!! It appears that things are going to get worse before they get better.....

In the meantime, don't forget to go to a local restaurant that would look forward to your patronage...

More than likely, you'll get a better meal with more attentive service!

[Robin Garr]

This was not a very strong story, and at the risk of seeming snarky (who, me?) it should be noted that it was written not by a news or business reporter but by one of the CJ's gossip columnists.

This was not a very strong story, and at the risk of seeming snarky (who, me?) it should be noted that it was written not by a news or business reporter but by one of the CJ's gossip columnists.

Sounds gossipy too. Who is to say who will be the next to go under. Not to take anything away from Anthony's pain of loosing one of his places, but really, how would he know who is next.. We generally do not share our financial pains or gains in this business with fellow owners. Just need to stay positive and not let the media put ideas in our heads. The Louisville economy is not as bad as the rest of the nations. So get out there and eat....

We generally do not share our financial pains or gains in this business with fellow owners.

I bet the workers talk to each other, though...

Not so sure they know either.

If those kind of rumors were posted here...alot of folks would be calling the poster out. It's a very vague article. If they can stay open through the holidays then they have some capital somewhere. Go out and eat tonight.

Words are always twisted! No harm meant, but we do talk to eachother. What was meant, was that I would'nt be surprised to see more close. I talk to alot of my Chef and Owner friends, and we do share are financial pains and gains. I probably stay in touch once a week to see how last nite was or your Sat. nite was. I hope I'm wrong though. I hope I was the last restaurant to close in Louisville. That would be great! I'm honest enough, to share my situation and I do with my customers and friends. Seviche on B-town Rd. is no walk in the park, I'm struggling there too. Hey! I do 1200. on Mon. 900. on Tue (election day) but then do 4800. last nite ( thank you restaurant Gods!) So, once again, words are always twisted, but we really do talk to eachother. Employees are no fools, usually they are the first to notice, but their not going to tell their employer. I appreciate all the support we get get from our Louisville diners. They are among the best in the nation and we all are very lucky to have such an eclectic restaurant scene, here in Louisville.



As always buen provecho y muchas gracias!

Apart from any articles, it doesn't take a genius to figure out that there is going to be a restaurant shakeout in this economy. It's hitting every city.

[Robin Garr]

Apart from any articles, it doesn't take a genius to figure out that there is going to be a restaurant shakeout in this economy. It's hitting every city.

It may yet, but the funny thing about Louisville's situation is that every major closing can be explained by factors separate from the national economy. The Autumn edition of Food & Dining (hitting the streets any day now) will report that 26 local restaurants closed and 26 local restaurants opened during the past quarter.

Apart from any articles, it doesn't take a genius to figure out that there is going to be a restaurant shakeout in this economy. It's hitting every city.

It may yet, but the funny thing about Louisville's situation is that ever major closing can be explained by factors separate from the national economy. The Autumn edition of Food & Dining (hitting the streets any day now) will report that 26 local restaurants closed and 26 local restaurants opened during the past quarter.

Quite true!! We can blame everything on the economy but it is just one issue that restaurants face with regard to success or failure. Location, staffing, assets, lease, utilities, credit, and mis-management are just a few other factors that play heavily into why places fold up their tent (in my case, it was all of them....with the possible exception of mis-management, though I would not be so arrogant as to say I did everything right). I think in Anthony's case it was location, more than anything, (as well as Primo and Park Place) but I'm sure the current wretched economy also played a role as well. On a side note, I just finished chatting with a local Chef at a somewhat local restaurant (which will remain confidential for various reasons) that quite surprized me in that their sales were UP by 8% in the last 6 months, and they are looking at a record year.........What?? (where is my crystal ball when I need it.....I was floored, both by the sales figures and the type of restaurant it was!)