I think so
I wish NO business harm but I have to wonder if sushi is on a similar but longer path. How many can be supported, including the high-end ones? On this site it seems like a majority of high-end reviews are “sushi” oriented.
- Clearly this dude has money.
Business owner Bobby Kwak , who also co-owns the NYC location of Korean barbecue spot Kang Ho Dong Baekjeong, tells Eater he is in the process of selling Sweetcatch but declined to name the buyer.
- holy shit $17.5k/month rent
But the bankruptcy filing alludes to troubled times — “Debtors’ immediate need for relief stems from a pending eviction proceeding pending in civil court,” it says. Sweetcatch began running late on payments in May, according to the eviction proceeding documents, which show the monthly rental rate for the 20-seat space was $17,683.
Rent is a killer in NYC. Hence the $20 bowls of ramen.
They needed to sell 40 bowls of poke at $15 each daily just to cover rent.
Or just 77.8 servings of discounted $9 APL onions daily, 25 days per month…
They wouldn’t have been in this situation if they were selling APL onions to begin with. Talk about lack of business sense!
another one bites the dust
More to come I’m sure. I’m encountering a lot of flimsy one-off establishments here in NYC that I doubt will make it in the long run. Save the fish! Yay!