Start Weeping: Landlords Want More Olive Gardens!

Large restaurants are closing their doors in the face of the Great Recession. They pose incredible Catch 22's, of sorts. While they do extremely well when customers are frequent, they also cannot make enough to cover their operating costs in slow times. While this is true, it has not stopped restauranteurs from opening new, very large operations with big name chefs. Only time will tell whether these investments are sound.

Don't get us wrong, endless salad and breadsticks are great, but this tidbit from Post columnist Steve Cuozzo's feature on the recent rash of restaurant closings was pretty depressing: Prudential Douglas Elliman's Faith Hope Consolo said landlords want chain Fig & Olive types. Every time I get a space that's fit for a restaurant, the landlord calls and says, I don't want a typical restaurant -- I want Pret a Manger, she said. Or, Bring me another Olive Garden. Well, not only are you family at the OG, you can also apparently find classy chicks.

Cuozzo adds Angelo & Maxie's and Maxie's Grill to a list of closings that includes Tabla, Matsugen, Japonais, Montenapo, Convivio and Alto, noting All were big (more than 200 seats including bars and lounges). Most were helmed by big-name owners or chefs, and/or occupied prime locations. BR Guest's Stephen Hanson opined, The big ones have double-edged swords. When the economy's great, you can do very well. When it's not, the expense of running such a large operation can eat you up very quickly.

There's also some sniping about upcoming joints: One broker referred to the new Danny Meyer restaurant, North End Grill, which will be headed by Tabla's former chef Floyd Cardoz, I don't know how much business there is in Battery Park City. But at least Lloyd Blankfein will have a good place for lunch.

You can't go wrong when you use coupons for coupons for Olive Garden Restaurant to eat well and save money at the same time.

http://gothamist.com/2011/03/15/weep_now_people_landlords_just_want.php