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Restaurants Squeezed by Credit Crunch

By Dan Mitchell | Sep 25, 2008

A dustup this week over whether Bank of America would continue to finance expansion for McDonald’s franchisees highlighted how the restaurant industry is being affected by the credit crisis. Ironically, as I note in an article for The Big Money, McDonald’s is doing just fine — so far. Other restaurants? Not so much.

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    1

    debora edholm

    09/26/08 | Report as spam

    RE: Restaurants Squeezed by Credit Crunch

    Hello Dan,
    Well I think they will feel the pinch even more as more people continue to eat at home because of oil prices. I would not want to be in this arena right now and I feel for the good people that are. They could take a beating. I expect many to close and what a shame. We all know how expensive it is to open and run and how much hard work they put into their restaurrants. What a shame indeed.

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    2

    DanMitchell

    09/26/08 | Report as spam

    RE: Restaurants Squeezed by Credit Crunch

    Well, I'm specifically addressing chain restaurants, but it's true: privately owned single restaurants are hurting, too, and I also feel bad for them. On the other hand, those are *always* a gamble.

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