TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
August 26, 2024
Source: The Street
It seems like every type of food has been tried in restaurants that sort of copy the Chipotle model.
That's partly because "It's the Chipotle of XXX food" is an understandable elevator pitch. People like the idea of fast-casual restaurants that offer complete customization.
One of the most appealing parts of the Chipotle experience is that each customer can customize their burrito. taco, or bowl. If you hate guacamole or want extra, that's easy enough to do given the chain's model.
The problem for new chains using a similar fast casual, build-to-taste model, is that not all types of food are equally popular. In areas like Chinese and pizza, it's hard to launch new concepts because the space is very crowded.
In other cuisines, the new eatery not only has to sell customers on both its model and its menu. It's easy for people to order at Chipotle because most Americans know basic Mexican fast food cuisine really well.
When it comes to less established cuisines, there's an educational aspect that has to happen along with the basic marketing of getting people to eat at an unfamiliar restaurant.
That's at least part of the problem for one fast-casual chain that has been closing restaurants which has now filed for Chapter 11 bankruptcy.
Most Americans know the typical Chinese, Italian, Mexican, and maybe Japanese restaurant menus pretty well. When you move into Thai food, Vietnamese cuisine, German restaurants, and other global cuisines, there's less familiarity.
Many global dishes are familiar in parts of the country but not others. You might actually love Vietnamese pho (a rice noodle soup dish) or Pad Thai (a basic Thai noodle dish) but if you don't know what they are, you may not order them.
A lack of familiarity also makes it harder to order at a restaurant that offers customization. If you don't know the dish, it's hard to know whether you want to add hot spice or a sprinkle of bean sprouts.
Many Americans only know Mediterranean cuisine in a very broad way. That means that Roti, a chain serving a classic Mediterranean menu in a fast-casual setting had some work to do in order to grow its audience.
"Our story starts with spice. Roti has forged a modern connection to the original spice road; one of the world’s most storied destinations. The result is a menu that’s vibrant with exciting Eastern Mediterranean flavor. The subtle scent of saffron, the zest of za’atar, the nuttiness of cumin, the earthiness of turmeric, and so many more, come together to make every bite its own uniquely delicious experience," the company shared on its website.
Roti files for Chapter 11 bankruptcy
Roti has been closing restaurants over the past few years. It has shrunk to 20 locations, about half of what it had before the Covid pandemic.
Now, the company has filed for Chapter 11 bankruptcy protection.
"The Chicago-based chain said it plans to use the Chapter 11 process to find new investors or a buyer as it reorganizes its finances. The company says that it hopes to ensure that its locations in Chicago, Minneapolis, and Washington, D.C., will remain open," Restaurant Business reported.
More bankruptcy:
- Struggling Home Depot rival files for Chapter 11 bankruptcy
- Popular Italian restaurant chain files for Chapter 11 bankruptcy
- Another distressed trucking company files Chapter 11 bankruptcy
“Our vision to create happier, healthier, and more flavorful lives comes to life by providing our guests with exceptional food experiences — even in the face of current headwinds,” CEO Justin Seamonds said in a statement “After careful consideration, filing for bankruptcy protection was the best way to address our challenges.”