Jul 3, 2009 10:35 pm US/Central
Recession Closes Some Restaurants, Boosts Others
MINNEAPOLIS (WCCO) ―
-
-
In Minneapolis, the market for upscale eats is crowded. Now, it has lost a big player downtown that brags its steak is the best anywhere.
CBS
The economy is being blamed for closing the doors of a big-name steakhouse in Minneapolis. Morton's Steakhouse has been a part of downtown for 18 years. Thursday was its last day in business. It's one of three locations closing across the country.
But food experts say the recession isn't all bad for the restaurant business.
In Minneapolis, the market for upscale eats is crowded. Now, it has lost a big player downtown that brags its steak is the best anywhere.
As people trim the fat from their own budgets, spending $30 or $40 a plate might not be as easy to stomach anymore.
James Norton is the editor of
Heavy Table, an online magazine telling food stories of the Twin Cities and Upper Midwest.
As higher-end chains cut locations, Norton says this new economy is making room for cheaper ones. He points out Smashburger as an example, a spot you can fill up for about $10.
"That seems to be the new direction. That's really the trend this year," said Norton.
Norton says places without big corporate control can take some time to figure things out. Figlio's in Uptown will close in a couple of months to make some changes before getting back to business.
"It's almost been a wash in terms of openings and closings," added Norton.
As hungry people look for places serving up fun and good food and a menu that leaves them with a little money to spare.
Norton says in the next month there are at least another dozen high-profile restaurants opening in the Twin Cities. If there will be a mass die-off, he doesn't expect that to happen until after the holidays.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
Salvation Army Taking Plastic At Kettles
Click to enlarge
Stumble It!
Reporting
