As rents rise, ubiquitous food chains are closing stores in Manhattan (and nationally)

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

source https://therealdeal.com/2018/07/01/as-rents-rise-ubiquitous-food-chains-are-shedding-stores-in-manhattan-and-nationally/