Soaring New York City rents are causing fast-food chains to close stores

Business Insider | 7/8/2018 | The Real Deal
Click For Photo: https://amp.businessinsider.com/images/5b3fc250d7751407398b4616-2732-1366.jpg

Pret A Manger announced it's closing three Manhattan locations.

Panera Bread also closed some locations.

Rent - Prices

Rent prices are skyrocketing.

British grab-and-go food chain Pret A Manger announced Friday it was closing three stores in Manhattan.

Record - Number - Shops - US - Year

"After opening a record number of shops in the U.S. last year, we've had a good look at the real estate and felt it necessary to close three New York locations whose rents made them unlikely to be profitable—125 Chambers Street, 437 Fifth Avenue and 38 West 48th Street," a company spokesperson told Commercial Observer.

Pret isn't alone. Panera Bread...
(Excerpt) Read more at: Business Insider
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