Like with retail, the restaurant industry is struggling to stay afloat. Some brands were already having a tough time as Millennials have moved away from some legacy nationwide chains toward locally-owned operations. That means brands like Applebee's, Checkers and Rally's, and Ruby Tuesday are having a tough go of it. Themed chains seem to have lost their appeal as well. Joe's Crab Shack and Fuddrucker's used to be staples of family vacations, as they are located in traditional "getaway" destinations. These places, too, have been on a downturn.
Others have been impacted by the lastest worldwide health crisis. Golden Corral is famed for its extravagant buffet. But when patrons are barely able to visit restaurants for health reasons (to say nothing of the open-for-all nature of buffets), you can imagine that the bottom lines of businesses like Gold Corral have been impacted.
Anyone who loves these restaurants should get all they can before they're gone!
Krystal’s is a southern company that seemed almost untouchable. This White Castle-esque fast food restaurant chain has 360 locations, but it seems like that number is getting smaller and smaller every year. Then, we all realized why.
Late January 2020, Krystal’s filed for bankruptcy due to being in debt. It owed anywhere between $50 to $100 million (the actual number hasn’t been reported). The company issued a statement that claimed restaurants would remain open, but we all know how quickly things can turn.
Did you know...
- Want a money saving tip? Ditch credit and debit cards, and stick to carrying around cash. Studies show people spend between 12 – 18% more when using a plastic card as opposed to when paying for things in cash. If you physically have to dole it out, you’re much more aware that you are spending your hard-earned money!
- Do you know what the lifespan of U.S. currency is? The higher the denomination, the longer it stays in circulation. Both $50 and $100 bills last 9 years. The $20 sticks around for 4 years. $10 bills circulate for 3 years. The $5 bill has a 2-year lifespan, and the $1 bill only lasts around 18 months before being retired. Coins last around 30 years.
- Paper money is actually pretty heavy. One pound would be worth $454 in $1 bills. That means $1 million comprised solely of $100 bills would weigh over 20 pounds. Those suitcases filled with money in movies must be hefty to lug around all that paper money. If you plan on robbing a bank, you better bulk up!
- It's an understatement to say that the odds when playing the lottery are not in your favor. You are statistically three times more likely to die in a car accident while driving 10 miles to buy a lottery ticket than you are to actually win. Even more astounding, over half the tickets in an average lottery draw are bought by only 5% of the participants.
- Have you ever wondered who prints the most money? That would be Hasbro, as in the makers of Monopoly. Hasbro prints more Monopoly money in a given year than there is money in the entire world. Each set of the game comes with $20,580. Bet you didn’t know you had that much money lying around the house!