Panera Bread on N. Western - Permanently Closed?

[scottk]

Noticed today that the Panera Bread just north of NW 63rd on Western Ave has large signs up that it is closed. Panera also removed the location from the website and Google Business also says it has permanently closed.

From all the years that it was located there, it seemed always packed at lunch with neighboring businesses. Closest location now is the one on NW Expressway near Hefner Parkway.

[sooner88]

Noticed today that the Panera Bread just north of NW 63rd on Western Ave has large signs up that it is closed. Panera also removed the location from the website and Google Business also says it has permanently closed.

From all the years that it was located there, it seemed always packed at lunch with neighboring businesses. Closest location now is the one on NW Expressway near Hefner Parkway.

I heard that they didn't renew their lease, and they were having trouble with staffing. All word of mouth though.

[Pete]

Yes, it's closed. Signs are already down.

This means there are now 3 big vacancies in a row on that stretch of Western: Panera, West and the old Hideaway spot.

[Rover]

I heard that they didn't renew their lease, and they were having trouble with staffing. All word of mouth though.

They literally couldn’t get enough staff to operate.

[Bowser214]

Yet other restaurants are opening up new locations hmmmm how does that work?

[Rover]

Yet other restaurants are opening up new locations hmmmm how does that work?

Many are struggling. Some require a higher % of staffing level to produce the food. Lots of things enter that calculus and it’s different by restaurant type, offering, etc. more than a few restaurant insiders have made the same remarks about Panera so I tend to believe it.

Anecdotally, several of the restaurants I’ve been to since my shots have served a noticeably inferior product than before the lockdown... and at seemingly higher prices.

Kitchen staff is a struggle, but some restaurants have done better with wait staff. Those are the restaurants whose patrons seem to tip better and the owners treat them better. Funny how that works.

[onthestrip]

While hiring help has been an issue for restaurants Im very skeptical this is the reason they closed. Im betting their lunch business is no where near what it used to be with CHK a shell of what they used to be. If a business is doing well, they will find a way with employees by paying them more, bonuses or whatever it takes. But I doubt it was doing all that well in the last couple years and probably the lease was expiring and they said we are done here.

[DowntownMan]

While hiring help has been an issue for restaurants Im very skeptical this is the reason they closed. Im betting their lunch business is no where near what it used to be with CHK a shell of what they used to be. If a business is doing well, they will find a way with employees by paying them more, bonuses or whatever it takes. But I doubt it was doing all that well in the last couple years and probably the lease was expiring and they said we are done here.

I bet lots of restaurants have been hurt by companies still keeping employees home hence less catered meals which can be very profitable.
I could see that being one reason for this with a smaller CHK down the street

[Pete]

And 3 restaurants in a row have closed and nobody has taken the space of West or the old Hideaway even though both have been available for some time.

[Jersey Boss]

They literally couldn’t get enough staff to operate.

Just can't find people to work irregular hours, paying them the least amount allowed by law, making them do more sanitizing and at the same time risking one's health. Oh yeah and the harassment one gets from customers who protest masks/social distancing and are left with no tip. Yep, can't figure it out.

[Rover]

Just can't find people to work irregular hours, paying them the least amount allowed by law, making them do more sanitizing and at the same time risking one's health. Oh yeah and the harassment one gets from customers who protest masks/social distancing and are left with no tip. Yep, can't figure it out.

Exactly. People don't understand that workers don't want YOUR virus. It's no wonder they don't want to rush back to places where the customers are so nonchalant about public health and so miserly with their tips. All for the privilege of working for $10-12 per hour / $20,000 a year.

[Rover]

And 3 restaurants in a row have closed and nobody has taken the space of West or the old Hideaway even though both have been available for some time.

Don't you expect interest to pick up considerably when the apartments are finished and the properties of Chesapeake start to sell/lease and fill up? The area took some body blows with the reduction of Chesapeake.

[Pete]

That Hideaway building has been available for quite some time. It seems oldish and a bit run-down.

But the West building is gorgeous. Beautiful bar area, big dining room and a great patio. I hope it finds another operator soon because it's great space and not much needs to be done.


It's hard to say how much of this is tied into Chesapeake. It certainly hasn't hurt Classen Curve or Nichols Hills Plaza and a bunch of new restaurants have opened in the area like Torchy's, Flower Child, Osteria and Empire Slice.

[soonerguru]

I bet lots of restaurants have been hurt by companies still keeping employees home hence less catered meals which can be very profitable.
I could see that being one reason for this with a smaller CHK down the street

My whole family is vaccinated, and we have begun to dine out sporadically. I won't name names but a lot of our old favorite haunts are not doing well enforcing Covid protocols (some unsurprisingly). But one thing for me is that we have gotten so used to cooking our own food, and doing so well, that restaurants are just not as much of a draw right now, unless we are traveling and have no alternative.

We ate at a well-known Italian establishment as our first venture out and I must say I got sticker shock at the bill. We didn't even order a bottle of wine. For the nearly $200 we blew we could have gone to town at Whole Foods.

Suffice to say we will not be eating out nearly as frequently as we did before the pandemic. I think back to how much I spent dining out and grabbing takeout and it's insane.

I have seen a couple of restaurant owners on social media flaunting Covid restrictions and making fun of people who wear masks. You can be sure they will not get a penny of my business going forward because they obviously don't care about their patrons, employees, or even the city.

If you're a restaurant, you better be on your game because as competitive as things got before the pandemic, they will be even more so, as many people just don't feel safe to return to in-person dining in this state, where only 41% of adults have bothered to get fully vaccinated, despite abundant vaccine.

[john60]

Who owns the properties...is it the same person? I wonder if there is at least the potential to combine the Hideaway and West parcels with each other, and maybe with the lots that are behind them (to the east).

[Pete]

^

Yes, all 3 properties are under the same ownership, Midfirst Bank.

[Rover]

That Hideaway building has been available for quite some time. It seems oldish and a bit run-down.

But the West building is gorgeous. Beautiful bar area, big dining room and a great patio. I hope it finds another operator soon because it's great space and not much needs to be done.


It's hard to say how much of this is tied into Chesapeake. It certainly hasn't hurt Classen Curve or Nichols Hills Plaza and a bunch of new restaurants have opened in the area like Torchy's, Flower Child, Osteria and Empire Slice.

You're being kind to the Hideaway building.

[ditm4567]

I was sitting at Irma's when the owner announced they were closing. I asked them why they don't just move over to the old Hideaway or West building. They said they are asking for a comical amount in rent. Said they are not surprised no place has taken over those buildings.

[Pete]

Remember, Midfirst also bought all those properties to the south on Western that were formerly owned by Chesapeake.

They recently razed the old Deep Fork Grill and haven't done anything with the other properties they own in that triangle.

And of course, they also bought office buildings from CHK to expand their corporate campus along I-44.

[shawnw]

https://twitter.com/OKCNightCourt/st...02493011107842

[onthestrip]

Remember, Midfirst also bought all those properties to the south on Western that were formerly owned by Chesapeake.

They recently razed the old Deep Fork Grill and haven't done anything with the other properties they own in that triangle.

And of course, they also bought office buildings from CHK to expand their corporate campus along I-44.

They have not been good for western as they appear to have zero motivation for making deals happen on their properties, several of which they picked up in off market, good ol boy deals.

[Pete]

^

The properties they bought from Chesapeake were never on the open market.

That has been the case for virtually everything Chesapeake has sold in the process of taking tens of millions below what they had paid. I know some people will say "that is chump change to them" but they are a public company, have gone into and out of bankruptcy and have laid off thousands of employees. This was all done after Aubrey was long gone and it has never made any sense.

As just one example, Chesapeake under Aubrey bought the Deep Fork Grill property for $4.5 million (!) in 2008; they sold it to Midfirst in 2017 for $855,000. I keep all this stuff on a spreadsheet with over a hundred properties and the numbers are shocking.

[Dob Hooligan]

^

The properties they bought from Chesapeake were never on the open market.

That has been the case for virtually everything Chesapeake has sold in the process of taking tens of millions below what they had paid. I know some people will say "that is chump change to them" but they are a public company, have gone into and out of bankruptcy and have laid off thousands of employees. This was all done after Aubrey was long gone and it has never made any sense.

As just one example, Chesapeake under Aubrey bought the Deep Fork Grill property for $4.5 million (!) in 2008; they sold it to Midfirst in 2017 for $855,000. I keep all this stuff on a spreadsheet with over a hundred properties and the numbers are shocking.

Yes. It is shocking, and it is huge. But, let me suggest that Aubrey took money he borrowed from outside Oklahoma and spent it here in such a way that it stayed here. Let's say (I don't know for sure, just using as an example) Deep Fork Grill property was locally owned, and he spent $4.5 million New York dollars on a plot that sells later for $855,000. Seems to me that there are over $3.6 million New York dollars that didn't go back. I think Aubrey played the Okie Wildcatter game at unthought of levels. But he left incredible amounts of money here when he was done.

[Bowser214]

August 5, 2021 In a major merger announced Thursday, Panera Bread joined forces with Caribou Coffee and Einstein Bros. Bagels to form Panera Brands
https://www.msn.com/en-us/money/comp...nds/ar-AAN1sTu

[Rover]

Yes. It is shocking, and it is huge. But, let me suggest that Aubrey took money he borrowed from outside Oklahoma and spent it here in such a way that it stayed here. Let's say (I don't know for sure, just using as an example) Deep Fork Grill property was locally owned, and he spent $4.5 million New York dollars on a plot that sells later for $855,000. Seems to me that there are over $3.6 million New York dollars that didn't go back. I think Aubrey played the Okie Wildcatter game at unthought of levels. But he left incredible amounts of money here when he was done.

What kind of Okie justification is this? He wasn’t Robin Hood. Just because it might be NY money doesn’t make it right.