Bankruptcy is becoming a tactic rather than a last result. Maybe you can avoid it!
Today’s post is by Ron Southard, CEO at SafeSourcing.
I read an article today on TheStreet.com by Kirk O’Neil titled Beloved fast-food chain files for Chapter 11 bankruptcy. Quite frankly it took a while to figure out what chain the article was referring to because it spent a lot of the article talking about the problems Rite Aide is having who also filed for Chapter 11. Then it went on to talk about a furniture company that had to close 27 stores in 14 states and ultimately had to file for Chapter 7 liquidation.
The article did finally mention a restaurant chain that had to file for chapter 11 because sales have not recovered from the Covid Pandemic. How often have we heard this?
The fact is the fast-food sector of the retail is suffering, the model has changed quite a bit. How often do you go inside your favorite location to order your food (it is faster). Most of the takeaway or to go traffic is done through the drive-up windows. I’m pretty sure we are going to start seeing them again in the c-store space as they continue to try and capitalize on fresh food offerings, some of which have become outstanding. Even food service distributors are shifting their attention to the c-store vertical as a new source of business.
So, what’s the point? There is a lot of pain in all retail, it’s a war for the customers reduced spending. Thank the FED, The current Democrat Administration, and the Banks for that. However, where there is pain there is opportunity. If you look for it, it may just save some jobs or pay for that new self-checkout because you can’t find enough staff for the shift work in 24-hour operations.
If you ask, you can find lower prices on just about everything. Capital Projects, Cost of Goods and Expense. Here’s the thing, you are understaffed for the job you have to do. There are other projects that the company will never get to. You don’t have the time to do it yourself. That’s where SafeSourcing comes in. We know the categories as well or better than you do. We know where all of the suppliers are and have relationships with them, that you do not.
If you wan to reduce costs, I mean really reduce them so you can afford to do other things, Contact SafeSourcing. We guarantee our work, and our ROI is often greater than 10X and immediate.
