Houlihan's has filed for Chapter 11 bankruptcy protection with a $40 million buyout offer in hand from Landry's owner Tilman Fertitta. The company owns or franchises 69 eateries under several banners, and the independently owned locations aren't part of the bankruptcy filing.
Chicago Mayor Lori Lightfoot has proposed a measure to raise the hourly minimum wage for tipped workers from $6.40 to $8.40 on July 1, 2020, but keep the tip credit in place. An earlier proposal that would have eliminated the tip credit drew opposition from the city's restaurateurs.
Quiznos will launch a test today of plant-based corned beef from Mrs. Goldfarb's Unreal Deli in the Denver market. The new sandwich will be made with Swiss cheese, sauerkraut, pickles and French dressing.
Washington, D.C., Venezuelan food eatery Seven Reasons topped Esquire's newest list of the 22 best new US restaurants. Nari in San Francisco, Bon Temps in Los Angeles, Pizzeria Beddia in Philadelphia and Benne on Eagle in Asheville, N.C., rounded out the top five.
Junzi Kitchen CEO and co-founder Yong Zhao fell into the restaurant business when his landlord needed someone to take over his eatery six years ago. Now, he's recruited investors including Chip Wade, president of Union Square Hospitality Group, to raise a $5 million fund he'll use to buy out other Chinese restaurants slated for closure because their owners are ready to retire.
General Mills has expanded its partnership with Nielsen's data analytics service, Nielsen Connects, and will begin gathering more information about emerging trends and consumer decisions. This work will expedite General Mills' response to changes in the retail landscape and consumer preferences, says Nielsen executive Laura McCullough.
Leading retailers are using their private brands to outperform competitors in the fresh foods category, according to a Daymon report. Plant-based products and "craft" quality have become more important to today's consumers, providing new opportunities for grocers.
Clorox is developing its first direct-to-consumer brand, Objective, which is based on a line of health and wellness supplements Clorox acquired last year. Initial launches for the brand are expected next year, while the company's DTC team is adopting a startup's "move fast, build fast" mentality to create more brands, says division leader Jackson Jeyanayagam.
China is lifting a ban on US poultry that has been in place since an outbreak of avian influenza in the US occurred nearly five years ago. The policy change is expected to generate more than $1 billion annually in US poultry exports to China, according to US Trade Representative Robert Lighthizer.
Nestle can still be profitable while also taking on initiatives to reduce its carbon footprint and create healthier products, says CEO Mark Schneider. Nestle has reduced sugar content in several categories, launched efforts to reduce plastic waste and improved agricultural practices to decrease chemical use, while planning to debut more plant-based foods, he says.