Competition among U.S. restaurants has been recently increasing as newer chains expand quickly in Ohio and across the country. In today's highly competitive restaurant industry, it takes very little for a business to face diminished cash flow, causing it to reconsider its operating strategy.
Over the past several years, shopping malls have seen a decline in traffic that has severely hurt mall-based businesses. Sbarro, a familiar pizza restaurant in mall food courts around the country, is one of those businesses. Due to a decline in mall customers compared to the previous volume, Sbarro has filed for Chapter 11 business reorganization for the second time in just three years.
Mahogany's restaurant at The Banks promises to catch up on its financial obligations and keep its doors open through a cold winter that has depressed businesses. The small business received a $300,000 loan and an almost $700,000 grant from the city of Cincinnati to help get it off the ground in 2012. Now, the owner vows that her small business debt will not force the soul food restaurant to go under.
Meeting customer expectations is a primary objective for any business. A retail chain that became popular by offering stylish women’s apparel and clothing recently discovered this fact firsthand. In recent years, Dots LLC changed its merchandise offerings from chic clothing to youthful fad pieces. This caused their most important demographic, young career-oriented women who wanted to look fashionable both in and out of the workplace, to stop shopping at their stores. Before this recent downturn the retailer had grown to over 400 stores nationwide, including locations here in Ohio.