We’re getting a clearer picture of consumer health as 2025 kicks off. Now that we have the first major conference of the year under our belts with ICR, and a little bit of color from several public and private restaurant companies, we can paint a clearer picture of the current state of the restaurant consumer. The consensus from executives and analysts is that consumers are stabilizing as their debt seems to have peaked, but they’re expected to remain discerning with their restaurant spending this year.
Lettuce Entertain You Restaurants has a new CEO. President R.J. Melman is being promoted to chief executive at the Chicago-based multi-concept operator, succeeding Kevin Brown. Melman will also continue as president.
Hot ‘n Now is the latest restaurant brand to plot a comeback this year. Gun Lakes Investments has teamed up with developer Jeff Konczak to acquire the name and grow the concept. The Michigan-based quick-service burger concept was founded in 1996 and grew to more than 150 locations in its heyday. In 1990, Hot ‘n Now was acquired by Taco Bell, which then sold it in 1996. It then went through several ownership changes before filing for bankruptcy in 2004. The brand is now down to just a single location, in Sturgis, Michigan.
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