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Fox 5 (New York) recently reported that hundreds of chain restaurants are closing across the US, including New York City.
The news presenters opened the segment with, "Chain restaurants used to dominate across the country. They were a fun place to grab a meal at an affordable price. But recently, many are struggling, even going out of business. Inflation, high labor costs, and changing tastes are all playing a part."
Interestly, they don't mention administrator and executive salaries.
The news reporter said, "Food industry analysts say, what we do not see is how, even though prices are going up for us, profits for food chains are going down."
Those interviewed in New York said they are eating at home more and also buying more meals from vendor trucks.
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