Philadelphia Restaurateurs Open New Places, Defying the Recession
Reduced rents, investors looking to park cash, and a dose of good old-fashioned optimism are fueling a surprising string of new restaurants here, despite the recession's battering. And if you listen to the city's restaurant leaders such as Stephen Starr and Jose Garces, there's much more to come, and some dining niches are still untapped. Indeed,...
Why Now is the Time to Open a Restaurant
Rents are dropping, talented chefs are up for grabs and, most important, smarter diners are looking for value, not glitz. Last year, Philip Hoffman did something most people would call crazy in this economy: He opened a restaurant. Taking over the lease on a failing French bistro in New York's Greenwich Village, Hoffman and his team...
DINING OUT A new course: Vast, ritzy out; cozy, modest in
Economic forces continue to pummel the restaurant industry, with more than three dozen closings in the region this year. Yet, surprisingly, at least as many eager opportunists have stepped in, checkbooks in hand, to open new ones. "Restaurateurs are, almost to a fault, optimists," said Michael O'Halloran, who two weeks ago opened Kong, a Chinese bar-restaurant...