The past year felt like one of the longest ever for foodservice businesses, and one most weren’t sad to leave behind. Even though they feel they’ve waited long enough for an economic recovery, predictions are that they’ll be waiting a little bit longer.
But so far, the new year’s bringing more of the same, and in some instances, worse results, as multiple restaurant chains have already filed for Chapter 11 bankruptcy.
Once the new year got going, research firm Technomic Inc., Chicago, issued a revised 2010 restaurant industry forecast, adjusting it downward on Jan. 25. The firm cited concern over job losses, underemployment and continued consumer frugality in dining away from home as its primary reasons for its prediction of a 1.6% industry decline in 2010.
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