From Nation's Restaurant News · · 1m 50s
Salad and Go, inflation, and Gen Korean
Salad Go returns after bankruptcy as inflation outpaces wages and Gen Korean exits restaurant industry.
In brief
Salad Go returns after bankruptcy as inflation outpaces wages and Gen Korean exits restaurant industry. Salad and Go is returning with corporate-owned restaurants and franchises after bankruptcy, while Gen Korean sells 47 restaurants to Chubby Cattle for $100 million to pivot to CPG. Originally reported by Nation's…
Salad and Go returns after bankruptcy
Salad and Go, a drive-thru salad concept that filed Chapter 11 bankruptcy earlier this year, is returning with corporate-owned restaurants and franchises.
Menu prices rise faster than wages
Restaurant menu prices rose 3.5% year over year in September, but wage growth is up only 3% over the past 12 months.
Inflation outpaces wage growth
The overall inflation rate is up 3.7%, meaning real wages are down 0.7%.
Gen Korean exits restaurant industry
Gen Korean BBQ Restaurant group is selling 47 restaurants to Chubby Cattle Group for $100 million to pivot entirely to the CPG business.
Chubby Cattle owns multiple brands
Chubby Cattle owns and operates 70 locations of brands including Chubby Cattle, Wagyu House, and The X Pot.
Gen Korean pivots to CPG
Gen will remain a publicly traded company but will pivot entirely to the CPG business after selling its restaurants.
Salad and Go co-founder acquires IP
Co-founder Daniel Patino acquired the intellectual property rights with partners Mike Myers and Tom Misitano of Hospitality First Concepts.
Salad and Go plans to franchise
Salad and Go plans to rebuild with corporate owned restaurants and also franchise the brand.
Wage growth lags inflation
Wage growth is up 3% over the past 12 months, but menu prices rose 3.5% year over year in September.
Gen Korean sells 47 restaurants
Gen Korean BBQ Restaurant group is selling 47 restaurants to Chubby Cattle Group for $100 million.
The bottom line
Salad and Go is returning with corporate-owned restaurants and franchises after bankruptcy, while Gen Korean sells 47 restaurants to Chubby Cattle for $100 million to pivot to CPG.
