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Fast Casual Dining Foot Traffic "Plummets" Across New York-New Jersey As Consumer Cracks
The slide in foot traffic comes as Red Lobsteris considering a bankruptcy filing, and TGI Friday'sis in distress, closing stores and working with Guggenheim Partners to address its debt problem as sales decline.
Moody's Ratings wrote in a report last week that rising menu prices have slowed fast-casual sales as the working poor ditch restaurants for food at home.
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