Covid Era Bankruptcies (46)

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jollystomper said:
One I didn't see on the list, the parent company of Luby's and Fuddruckers restaurants is shutting down and liquidating the company.
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My understanding is a company out of Houston is in talks to take over Fuddruckers and Luby's... the same company that owns and runs pappasitos, so they may last yet...
 
Well, good riddance. That's the whole point of capitalism: you run your business well, you survive. Otherwise it's time to pack your bags and let others take your place. Creative destruction at its finest...

We still have way too many zombie companies who are unable to even service their debt with their revenue. They all need to go. How is it possible that as individuals we (well, consumers... ) are being scolded for not having sufficient savings to cover our bills in emergency situations yet we throw money hand over fist at those clearly mismanaged companies who during fat years spent every penny of their profits on stock buybacks? And before anyone mentions jobs... it's not like airlines are NOT laying people off. They should be sold off to the highest bidder who in turn would rehire laid off people. And in the meantime, if the government really must print and throw money at someone, give it to the consumers directly - there's no surviving for the "consumer economy" if there are no consumers.
 
I just wonder about all the big malls across the country. We just had one in Bradenton declare bankruptcy. There is also a very nice one in Sarasota that must very costly to maintain and is probably in some financial trouble. Even before Covid, I had trouble seeing the long-term viability of these opulent giant malls. So much easier to order online and almost as easy to return items.
 
cbo111 said:
I just wonder about all the big malls across the country. We just had one in Bradenton declare bankruptcy. There is also a very nice one in Sarasota that must very costly to maintain and is probably in some financial trouble. Even before Covid, I had trouble seeing the long-term viability of these opulent giant malls. So much easier to order online and almost as easy to return items.
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Malls and crucial anchor stores were in decline anyway as you know, Covid just moved us all along a little faster. This chart is Canadian consumers, but I suspect US consumers behavior has been very similar. Some will go back to brick-n-mortar, but many won’t. I have many friends and neighbors who tried DoorDash, InstaCart and similar services for the first time because of the Covid shutdown, and they plan to continue to use them.
 

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SeanPizzle said:
I havent worn long pants in 6 months. Same with dress shirts. Tshirts and shorts probably until next spring
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Last night I was going out for a nice (outdoor) dinner with my sister. I tried to wear my favorite 4" sandal heels. I didn't make it 10 feet...changed to some 2" wedges instead...
 
Yeah, not good to do stilts in your old age. Falls hurt a lot more.

I like cotton. Cotton shorts and cotton shirts. Blue collar stuff. Very comfy.

I like flannel in the winter. Cotton flannel. Soft and fuzzy and warm.

And I like jeans. And soft leather shoes that don't pinch my feet.
 
dixter said:
My understanding is a company out of Houston is in talks to take over Fuddruckers and Luby's... the same company that owns and runs pappasitos, so they may last yet...
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mmm, Pappasitos was one of my favorites when I lived in San Antonio. Wish there was one closer to my current location in Cincinnati.

Now back to the original subject.....
 
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aaronc879 said:
How could Pizza Hut be going bankrupt? People around here have been ordering more pizza than ever. I don't think a day goes by that I don't see a delivery on my street. I rarely saw that before Covid
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Pizza Hut does seem to be in trouble as a sit-down restaurant chain, at a minimum. Former Pizza Huts converted to other businesses seem to be the closed A&Ps and Safeways of the early 21st Century.
 
gayl said:
Wow!! My formal heels are only 2"
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DW wears “flats” 99% of the time. She tossed everything over 2” years ago (probably 2 dozen pairs).
 
38Chevy454 said:
mmm, Pappasitos was one of my favorites when I lived in San Antonio. Wish there was one closer to my current location in Cincinnati.

Now back to the original subject.....
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Close the Fuddruckers and open Pappsitos and Papadeuxs instead!
 
Of course. Fuddruckers is a burger joint. Easy.
 
Fuddruckers is a great burger joint, but unloved around here. I see people raving about shack shack, 5 guys and several other $10 burger joints that are not as good as the Fudd. They have that great toppings bar so I essentially put a salad on my burger along with a beer for $10...well maybe that was a few years ago!
 
jazz4cash said:
Fuddruckers is a great burger joint, but unloved around here. I see people raving about shack shack, 5 guys and several other $10 burger joints that are not as good as the Fudd. They have that great toppings bar so I essentially put a salad on my burger along with a beer for $10...well maybe that was a few years ago!
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Same!

I could get a good burger that was juicy and not greasy. Then, add a load of toppings to it, my way.

5 Guys (to me) is like slabs of grease so the few toppings they put on slide off. I don't get it.

In any case, Fuddruckers and a similar local chain closed around here 5 to 10 years ago. It seems like the time for the concept was up. And for whatever reason, it was trending towards 5 Guys, Shake Shack and In-n-Out. I guess the topping bar idea was part of it? People were trending away from them even before Covid.
 
jazz4cash said:
Fuddruckers is a great burger joint, but unloved around here. I see people raving about shack shack, 5 guys and several other $10 burger joints that are not as good as the Fudd. They have that great toppings bar so I essentially put a salad on my burger along with a beer for $10...well maybe that was a few years ago!
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I like Five Guys more, and Shake Shack MUCH more than Fuddruckers. So we all have our preferences, though it appears mine is more typical.
Both restaurants have suffered during the pandemic: At Luby's (LUB), restaurant sales fell 75% in the quarter ending June 3 compared to the same period last year. At Fuddruckers, sales fell nearly 91%.
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We had a fantastic burger place around here. Their tag line was "Brilliant burgers and craft beer bar" and they were first class in both categories. Three locations, local ownership, and everyone loved the places. All three went under due to the pandemic, and it was a real loss.
 
Toocold said:
I hope these are only temporary closures. One of the reasons why I retired was to watch the latest movies at a Regals near by with DW on Tuesdays for an inexpensive price.
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That industry was in trouble before COVID I don't really see it bouncing back.
 
Agreed. We used to go to the movies often and note that they have been getting progressively emptier for years.
 
Gumby said:
Agreed. We used to go to the movies often and note that they have been getting progressively emptier for years.
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I once read an article about falling movie attendance. The executive they interviewed mentioned that since attendance was falling they would have to raise ticket and food prices to make up the lost revenue. Talk about people who just don't get it.

The last movie I went to was one on a Tuesday $5 senior deal. But, since the movie we wanted to see was only in some Super Duper Sound theater the price was actually $12. I paid the price as I was taking my lady friend, felt ripped off, and never went back. But, what the heck, let's blame their problems on Covid.

Covid often magnifies existing problems.
 
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Chuckanut said:
I once read an article about falling movie attendance. The executive they interviewed mentioned that since attendance was falling they would have to raise ticket and food prices to make up the lost revenue. Talk about people who just don't get it.

The last movie I went to was one on a Tuesday $5 senior deal. But, since the movie we wanted to see was only in some Super Duper Sound theater the price was actually $12. I paid the price as I was taking my lady friend, felt ripped off, and never went back. But, what the heck, let's blame their problems on Covid.

Covid often magnifies existing problems.
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For sure. Why would I pay more for what I can get cheaper in the comfort of my own home? Plus I can press “pause” if I have to go the the bathroom.
 
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