Knoxville, Tennessee (WVLT) – In a few weeks, several restaurants in downtown Knoxville announced that they were closing their doors. Several have cited the increase in costs and a constantly evolving commercial landscape of the city center.
“It is certainly the most difficult cases that a owner can own or direct,” said Jim Klonaris, who has been working in catering for over 30 years. He has several successful downtown clips, such as Kefi and The Vault, to name only a few.
“When we first entered the downtown market, there was really not many city center and people did not come to the city center,” said Klonaris. “When we opened, it was a fanfare. He broke out like crazy.”
Klonaris said it was no longer the usual experience for budding business owners. With more people who move to the city of Scruffy, the same goes for new restaurants. The large selection creates stronger competition to enter hungry customers.
“We can always have more restaurants, but people who are in business should know that your volume may not be what you want, because there is a stomach share,” Klonaris said. “People will not be able to go to so many places.”
Some now feel the tension of this growth. Frathy Monkey, a coffee on Gay Street, closed last month. Last week, Babalu and Sweet P’s Downtown Dive both announced its intention to close at the end of the month. The announcements are added to a growing list of restaurants choosing to close their doors.
“Today, there are many more places to eat in the city center of Knoxville than when we opened a decade ago,” said Chris Ford, owner of Sweet P’s, in a press release.
Michele Hummel with the city center of Knoxville Alliance said that there were more than 100 restaurants in the city, more than 90% belonging to local property. She said that companies are also faced with inflation and staff shortages.
“The cost of doing business wages every day in inventory and everything is higher,” said Hummel.
Klonaris said he is not worried about recent business closings. It is a new reality for a growing city and a constantly evolving market.
“Some people just raise their hands and say:” Listen, I finished “,” said Klonaris. “As much passion as you can have about your concept, it is sometimes easier to say goodbye.”
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