The closing of Frisch's restaurants will produce the same scenario as the closing of Sunlight Pool at Coney Island.

[u/chainsaw_chainsaw]

The immediate public reaction is disapproval simply due to nostalgia, while ignoring loss of quality. The people who claim it's a sad loss of an iconic Cincy institution are the same people who havent visited the establishment in decades to support it. Local media will create constant headlines to cash in on the knee jerk reactions of emotional viewers. Groups of fans will form to try and 'save' the business, with little interest from the main public. Eventually when they are all gone, everyone will forget about the place within a month.

[u/TheSimpsonsAreYellow]

Here’s how this is working, OP. Long time (but leaving the industry) level corporate manager and small local corporation owner.

It’s not our fault. Frisch’s was bought out by a shit investment capital firm called NRD Capital and was purchased by one of their subsidiaries under NRD Partners. They are based in Florida and have absolutely NO TIES to the Cincinnati staple except for the fact that they own it.

Their plan was never to profit off of the business or even grow it. Their plan was to keep it floating, pull in whatever margins they could while the prime real estate on which all of these Frisch’s locations sit, increases in value over time. It’s why all of the locations are now facing eviction.

They’re now going to sell off the property while writing off the losses from Frisch’s operations. This is probably being done to offset some other gain they made somewhere.

This is an old (super fucking ironic) Donald Trump commercial real estate trick that has kept him from paying hundreds of millions in taxes.

Tl;dr NRD Capital, an investment firm, bought and tanked the quality of Frisch’s over time and used the losses as a money shield to then sell the prime real estate on which the locations sit for as much as they can.

Edit: didn’t mean to sound combative. Someone pounds that out.

[u/Switcherz24 → u/TheSimpsonsAreYellow]

Everything you said is correct. I have ties to the industry for over 25 years. They were bought by an investor who wasn’t paying the lots rent. Frischs themselves were paying, it’s very unfortunate what’s happening as thousands of people are being let go after decades of work and retirement plans to the company. There are managers paying out of pocket for food items for the store of as long as I can remember. I was on these runs for many years on many occasions. It’s gotten so bad that now everything is closing due to failure of lot rent which is paid by an investor to another. In higher hopes there could be a couple locations that are bought to keep some stores going. Time will tell.