Restaurant closings

[Shortsyeararound]

First off...yes. I would absolutely be concerned. and I have lived through those downturns in 40 plus years of being an undercapitalized, ignorant small business owner/operator. I am a relic in my industry and the only reason I'm still around is because my property is paid for and I got nothing else to do. Plus, a few employees who are also old. I fully understand the modern world eliminating my type business, and realize the world goes on without me just fine. People still spending in my type business. They can't live without it. They just don't want to spend it with me.

My question about the clothing store you ran is if people are still buying clothes, just not at your store? We all get crushed by changing consumer tastes.

I was able to get out of retail after 27 years when my wife started a new career. I’m in the process of doing the same. I don’t want to sell anything to anyone ever again.
It is partly consumer, partly over saturation with that brand, majorly the higher price points. That brand has been around over 50 years and has seen the different cycles of hot/not hot.
I applaud you for still putting up the fight. What store and I’ll become a shopper if it is something I need.

[Jersey Boss]

Yes, I am very well versed in the retail world. I am just giving off my 2 cents like everyone else on here that this year we will see the closure of some past "trend forward" companies. Tastes change and buying has changed. The report came out today that said it costs about $8900 more this year to buy what it did in 2021. I know inflation happens, but the pace is faster.
If I tell you that a store I ran was a 4 million dollar clothing store in 2019 and this year will do 1.7 million, would you be concerned for the loss of jobs (which has already happened to a degree) and have the possibility of closing? edited to say 8900 not 8600

What report claimed it cost 8900 more to buy what it did 2 years ago? Do you have a source or particulars as to what the report used to determine this? I am sceptical of this conclussion without knowing more.

[MagzOK]

I've seen it.

https://kfor.com/news/local/you-need...n%20nationwide.

https://thehill.com/homenews/nexstar...nalysis-finds/

[David]

I've seen it.

https://kfor.com/news/local/you-need...n%20nationwide.

https://thehill.com/homenews/nexstar...nalysis-finds/

An economic analysis by a group of Congressional Republicans may have you feeling nostalgic for January 2021.

Definitely a non-biased source.

[Dob Hooligan]

I was able to get out of retail after 27 years when my wife started a new career. I’m in the process of doing the same. I don’t want to sell anything to anyone ever again.
It is partly consumer, partly over saturation with that brand, majorly the higher price points. That brand has been around over 50 years and has seen the different cycles of hot/not hot.
I applaud you for still putting up the fight. What store and I’ll become a shopper if it is something I need.

Appreciate the kind thoughts. Got one of those old auto repair shops you see around town. I'm one of those old guys that has a shop where his customers and employees are all gonna die off around the same time.

[PhiAlpha]

Definitely a non-biased source.

doesn’t mean it’s completely wrong. Things are certainly more expensive

[MagzOK]

Definitely a non-biased source.

Not arguing for or against it, just saying I've seen articles about the subject. Thanks.

[Shortsyeararound]

Not arguing for or against it, just saying I've seen articles about the subject. Thanks.

Thanks for linking the articles.

Biased or not- things are def more expensive.

[Shortsyeararound]

Appreciate the kind thoughts. Got one of those old auto repair shops you see around town. I'm one of those old guys that has a shop where his customers and employees are all gonna die off around the same time.

Understand that! I am sure you will live to be 200, but I do hear that mechanics are a dying breed.

[Bowser214]

Osteria closing its NH location Dec 31st. Reopening in 2024 in the Britton District. Airport location remains open. Per their FB page.

[Plutonic Panda]

I eat at the airport location all the time. Great food. Decent wine selection. I’m surprised Nichols Hills didn’t support it.

[Rover]

What report claimed it cost 8900 more to buy what it did 2 years ago? Do you have a source or particulars as to what the report used to determine this? I am sceptical of this conclussion without knowing more.

If you pick and choose what is in your basket you might be able to make this case. Not hard to do if you are political and not necessarily ethical about trying to portray facts.

[HangryHippo]

Osteria closing its NH location Dec 31st. Reopening in 2024 in the Britton District. Airport location remains open. Per their FB page.

Very glad it’s reopening. I like it.

[PhiAlpha]

I eat at the airport location all the time. Great food. Decent wine selection. I’m surprised Nichols Hills didn’t support it.

bet they just got a much better deal on rent in an area that’s still close to their target demographic.

[Urbanized]

^^^^^^^^^^\
Osteria is a Jonathan Stranger project, and so is El Coyote, also in Britton District. I don’t have specific insight, but my guess would be lease was coming up on Osteria while they were in the middle of opening El Coyote, and they wanted to locate Osteria nearer the other operation, take advantage of cheaper rent while still landing in an up and coming district; one with some buzz. Possibly someone in Britton gave them an offer they couldn’t refuse. Just a guess.

[DoctorTaco]

^^^^^^^^^^\
Osteria is a Jonathan Stranger project, and so is El Coyote, also in Britton District. I don’t have specific insight, but my guess would be lease was coming up on Osteria while they were in the middle of opening El Coyote, and they wanted to locate Osteria nearer the other operation, take advantage of cheaper rent while still landing in an up and coming district; one with some buzz. Possibly someone in Britton gave them an offer they couldn’t refuse. Just a guess.

I'm happy for them as it seems like a good move. I'm sad for me because living in Midtown the Britton District may as well be in Wichita for as often as I find myself there.

[Pete]

Osteria is in NH Plaza, which along with Classen Curve is owned by Washington Prime.

WP has to deliver to its investors which is why local tenants have been systematically replaced by regional/national businesses which have tried-and-true business models which allow them to pay higher rent.

However, Osteria spent a lot of money for AHMM to design and build their current space. That's a big thing to walk away from. Also, the new place will have a similar name but a different concept, which tells me they were not doing that well.

[sooner88]

Osteria is in NH Plaza, which along with Classen Curve is owned by Washington Prime.

WP has to deliver to its investors which is why local tenants have been systematically replaced by regional/national businesses which have tried-and-true business models which allow them to pay higher rent.

However, Osteria spent a lot of money for AHMM to design and build their current space. That's a big thing to walk away from. Also, the new place will have a similar name but a different concept, which tells me they were not doing that well.

Based on the quote from Stranger, it seems that he'll be doing this himself vs. continuing to partner with Fabio Viviani.

[LocoAko]

I eat at the airport location all the time. Great food. Decent wine selection. I’m surprised Nichols Hills didn’t support it.

The place was always full whenever we went. There is little evidence that Nichols Hills "didn't support it".

[OkieBerto]

The place was always full whenever we went. There is little evidence that Nichols Hills "didn't support it".

The last time I went the food wasn't that great. Chef Stranger always runs a great spot with great service, marketing, and cocktails, but Osteria and El Coyote have not been very good to me when it comes to the food. I really hope the new concept is a hit, but I am not sure I will be going for the main courses. I will probably just stick to cocktails.

[Thunderbolt]

The last time I went the food wasn't that great. Chef Stranger always runs a great spot with great service, marketing, and cocktails, but Osteria and El Coyote have not been very good to me when it comes to the food. I really hope the new concept is a hit, but I am not sure I will be going for the main courses. I will probably just stick to cocktails.

My experience as well. Osteria and El Coyote have great vibes, decor and service but the food has come up flat.

[LocoAko]

The last time I went the food wasn't that great. Chef Stranger always runs a great spot with great service, marketing, and cocktails, but Osteria and El Coyote have not been very good to me when it comes to the food. I really hope the new concept is a hit, but I am not sure I will be going for the main courses. I will probably just stick to cocktails.

Oh, I'm sorry to hear that. Osteria was actually one of the most consistent places for me to really love what I ordered, although I admittedly always order the same one or two dishes lol.

[barrettd]

The last time I went the food wasn't that great. Chef Stranger always runs a great spot with great service, marketing, and cocktails, but Osteria and El Coyote have not been very good to me when it comes to the food. I really hope the new concept is a hit, but I am not sure I will be going for the main courses. I will probably just stick to cocktails.

My ex-wife and I visited Osteria for a special occasion date night and it was not a great experience. To their credit, when I filled out the survey accordingly, they invited us back for a comped meal. While I was very appreciative, and we did return for the second meal, the food still just wasn't that great. Service was ok, but just not worth the money, for me. I'd be interested in seeing what happens when they move. I still haven't been over to the Britton District, I need to change that.

[Plutonic Panda]

The place was always full whenever we went. There is little evidence that Nichols Hills "didn't support it".

Weird then that a restaurant would just up and move then if they were doing good especially considering what Pete just said about the firm they used to design their space. Why move further from the most expensive zip code in the state?

[chssooner]

Weird then that a restaurant would just up and move then if they were doing good especially considering what Pete just said about the firm they used to design their space. Why move further from the most expensive zip code in the state?

Save on rent? I know that area, WH Prime is raising rents to get rid of those who had sweetheart deals. Not sure if they are one, but a raise in rent can be very good reason.