Painful Reality: Yet Another NJ Restaurant Closes – “We simply can’t carry on”
It's never been easy to run a restaurant. And if you think otherwise, consider these statistics.
According to the National Restaurant Association, there is a 20% success rate for all restaurants. About 60% of restaurants fail in their first year of operation; 80% fail within five years of opening.
And as every restaurant, local or national, faces an uphill battle even before they open, the pandemic turned the entire industry upside down overnight.
Then the economy changed, which further pushed businesses past the point of no return.
Plus, many would now argue that people have changed, too. It seems like no one wants to work these days.
Verifying those challenges, another restaurant in the Garden State is closing for good and the statement they posted to announce the news is painful to read.
Today, our travels take us to beautiful Flemington in Hunterdon County where, according to a post on their Facebook page, Platform One & CTO Catering is shutting down after about four years.
After 3 and a half years of dealing with the biggest challenges we've ever faced as a restaurant, with no end to the challenges in sight, we simply can't carry on weathering the storm.
From food prices being 3 times higher than pre COVID levels, labor shortages, utilities, gasoline and mismanaged government funding it's a mountain that we can't overcome.
Comments on their Facebook page indicate just how much Platform One will be missed.
- I am so sorry to hear this. I can’t imagine what the restaurant has gone through in these past few years.
- There are no words! I am heartfully sorry for you! Platform One provided the best lunches anywhere -- salads to die for, etc. and Ben and Mike are the best -- friendly, caring, dedicated!
- We are devastated to hear the news. We've had so many great memories there from our rehearsal dinner at the old Cook to Order location on South Main St to my surprise birthday party last year.
Platform One & CTO Catering will be open until 3 PM on Friday, October 14th.