Famous Dave's pulls out of Atlanta
Atlanta Business Chronicle
Famous Dave's of America Inc. shuttered its three restaurants in Atlanta for poor performance.
The Minneapolis-based restaurant chain (NASDAQ: DAVE) said it expected cash losses to continue at its Atlanta restaurants and that closing them will cost it $2.5 million in charges.
“We made the decision to take these actions in order to preserve cash and respond appropriately to the current slowdown in market conditions,” said Christopher O’Donnell, president and CEO of Famous Dave’s of America, in a news release. “With consumer confidence at an all-time low and retail spending dropping at significant rates, we need to ensure that our balance sheet and cash flow are strong and able to weather any continued softness in the economy.”
The company now owns 47 locations and franchises 123 units in 36 states.
Latest News |
