The End of an Era: Longtime Restaurant Chains Continue to Close Locations

Several longtime restaurant chains have struggled in recent years, with many locations closing across the country. CEO of Stoner Pizza John Stenson spoke about the state of the industry and how his chain has been able to open over a dozen new locations.

"It's a very challenging market for all food restaurants right now," said Stenson.

Stenson believes that consumers want something quick, easy, and delivered, which can be difficult for legacy restaurants with big real estate footprints to keep up with. The rising prices of food and labor also put a significant financial burden on restaurants.To cut costs, Stenson suggests using artificial intelligence and cutting menu items. He also recommends being more strategic about the size of a restaurant's location, noting that people tend to want takeout more than dine-in options. Paying rent for a large space with a lot of dining space can be wasteful if most customers are opting for takeout.