A BELOVED Mexican restaurant and Chipotle rival with just a few locations has closed without any warning.
Aldanberto’s Mexican Food in Folsom, California, is closing its doors at the end of the month after 15 years in business.
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O News The reason for the closure was disclosed in a notice posted at the restaurant, but the reason was not given.
“As this chapter comes to a close, we are excited to share that we are actively seeking a new location in the Fair Oaks area,” the note read.
“Nothing is guaranteed, but we look forward to continuing to serve you and meet your needs in our new location.”
It is unclear whether employees will be transferred to the new location.
FOOD FAILURE
While mom-and-pop restaurants have struggled to stay afloat, many restaurant chains are also at risk this year.
Many restaurants closed for a variety of reasons, such as poor performance, financial difficulties and changes in consumption habits.
So far in 2024, Red Lobster, Tijuana Flats, Pizza Hut, TGI Friday’s and several other restaurant chains have closed multiple locations.
Mitchell Olsen, a marketing professor specializing in retail at the University of Notre Dame in South Bend, Indiana, shared some of the reasons why so many restaurants have had to close their doors.
With food prices rising, Olsen told The US Sun that inflated prices have had a severe impact on casual restaurants.
“On the one hand, it is more expensive to operate restaurants due to higher wages and food costs,” he said.
“On the other hand, it is becoming increasingly difficult to pass on these higher operating expenses to customers with increasingly higher menu prices.”
Due to high costs, customers are changing their consumption habits.
“Consumers are starting to resist the high cost of dining out, thinking twice before purchasing that appetizer or going to a restaurant,” Olsen said.
Inflation triggered closures across the country, driven by several factors.
Chains including TGI Fridays, Outback Steakhouse and Applebee’s blamed poor performance as the main factor in location closures, they reported Forbes.
These chains closed locations that failed to meet sales and profit expectations.
Other restaurants, such as Boston Market, Red Lobster and Tijuana Flats, have closed due to inability to pay bills or disputes with owners.
“Although inflation is slowing down, remains stubbornly high compared to pre-pandemic prices that continue to be a reference point for many consumers,” Olsen said.
US Sun also spoke with Olsen about how Walmart is the most dominant retailer in the world.
Plus, a money expert revealed seven tips for paying off student loans.
This story originally appeared on The-sun.com read the full story
