Popular Restaurant Known for 'Delicious' Cuisine Closing June 28
Sometimes, even if the concept of a restaurant is a great idea, it just doesn't work out, for whatever reason. There are a lot of costs that go into running a restaurant, so launching a new establishment can make for a risky venture. Sometimes, even if the idea of that restaurant is great, as well as the food and drinks offered, the idea still ends up not making it past its first year.
There are a lot of restaurants in the United States, which makes for plenty of competition. As of 2023, there were 749,000 restaurants in the United States, counting fast food, casual dining, and fine dining spots, according to Food Industry. Also, many of these restaurants never make it in the long-term. According to the National Restaurant Association, via Toast, the restaurant industry has a 30 percent failure rate.
Toast also states that this "failure rate often varies depending on location, demographics, and the type of bar being operated." While restaurants in major cities tend to have a better chance of surviving, because of foot traffic, it's not always the case.
Now, a popular restaurant that was open for less than a year in a major city is already closing its doors.
Chef Grant Achatz and Alinea Group have announced that they will close Fire, a restaurant that replaced Roister in Fulton Market in Chicago. The restaurant first opened in November, so it hasn't even been around a year. Fire's final day will be June 28.
Alinea CEO Jason Weingarten tells the Chicago Eater that they're closing because of real estate, "citing that rents have increased 500 to 600 percent since the group moved into the space in 2016 when it opened Roister."
Weingarten also tells the outlet that Fire is "delicious, and it comes in and at a price point that's really unique for this market," also stating that, according to the Chicago Eater, "adding that hotel groups and other developers all over the world are pursuing Alinea, wanting to open a location of Fire or Roister." The good news is that Weingarten says Alinea Group plans to announce one or two new restaurant openings by the end of the year.
Related: Beloved Restaurant Permanently Closing After Only 10 Months