Krispy Kreme, Costa, TGI Friday’s and Signor Sassi closing down in Lebanon

americana group

I was just informed by a good friend at Americana Group in Lebanon that Krispy Kreme, Costa, TGI Friday’s and Signor Sassi are all closing down in Lebanon due to the turbulant time our economy is going through right now. Americana also manages KFC and Hardee’s as well, but these two are staying for now since they’re making profit.

I personally feel neutral about Costa, Friday’s and Signor, but I wish Krispy Kreme stays since I just love their donuts and prefer them over the overrated Dunkin’ Donuts.

It definitely sucks to be in the place of Americana or other big corporations who are all currently in survival mode, since everybody seems to prefer saving money than spending them on restaurants and luxury items. But I feel bad the most about the poeple who work at these places and will now be jobless, and these are mostly university students who work hard to pay their tuition fees.

I hope the warlords ruling this country are happy about the state we’ve come to!

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11 Responses to Krispy Kreme, Costa, TGI Friday’s and Signor Sassi closing down in Lebanon

  1. Jean September 13, 2013 at 7:55 pm #

    Yes, these businesses might not have closed down during the boom years of our economy.

    But to be honest, the market they entered has become a lot more competitive, and they aren’t ahead. I can’t remember the last time I visited any of the stores you mentioned.

    They’re just unsuccessful businesses. It is to be expected, especially when money isn’t being thrown around. But other businesses, although finding it more difficult, are still making great profits.

  2. Tarek Chemaly September 13, 2013 at 9:04 pm #

    Funnily enough, the slogan of Americana is 100% 3arabiya! :)

  3. maya September 14, 2013 at 9:51 pm #

    :(:(

  4. bachir September 15, 2013 at 12:10 am #

    i hope Just Falafel close too

  5. jim September 15, 2013 at 10:11 am #

    dude, it’s krispy kreme’s donuts that are overrated. dunkin donuts is good, but even better is house of donuts in saudi :P

  6. Habib September 15, 2013 at 2:34 pm #

    TGI Fridays has been on the decline for a long time following closure of their main location in Raouche several years ago–well before political instability. It is sad that people will be losing their jobs but a lot of concepts have failed in Lebanon, not always related to violence. How much do we really know about management’s decision to close these brands?

    As they noted KFC, Hardees doing well as are probably the dozens of American fast food here. I think this depends a lot on marketing, brand recognition, innovation and perhaps most importantly, price point.

    Mega corporations like Americana know this and know when to ditch a product that isn’t doing well. They are committed to profits (even if it means enticing you with the most bodily destructive foods known to man) and will continue to make plenty of them. I think they’ll be fine, it’s the workers, as you noted, that I’d be more concerned about.

    By the way the heck it is Signor Sassi?

    • Danielle September 19, 2013 at 10:51 am #

      Great observation, Habib. Yeah, this one shocked me as well–Signor Sassi, the pricey Italian restaurant on Zaituna Bay’s restaurant row, is also operated by Americana.

      Anyway, did anyone see this: http://www.beirut.com/l/28401. Apparently Americana management is denying the closure of the chains mentioned above. In fact, Krispy Kreme on Bliss Street will be replaced by KFC, another restaurant in American’s portfolio.

  7. J September 16, 2013 at 2:00 pm #

    Do you have a source to any of this news? It seems a bit premature. Would love to have a link to this story

  8. maya September 18, 2013 at 8:44 am #

    I think regardless of the political instability ,Lebanon as a microminiature small country has lots of fast food chains /restaurants /cafes/pubs ,enough’s enough ,we don’t need food services ,we need oil drilling

  9. Alan September 19, 2013 at 2:50 pm #

    I think and many already know … that this is due to bad management and bad service at these places … maybe not crispy cream … you should try TGI and see the bad service … no value for money there and this has started since day 1 when these places opened up !

    where is management in all of this ????

  10. Ramzey December 13, 2013 at 4:17 pm #

    The discussion once again revolves around our bad economy and what operators can do to weather the storm. This is the essence of the points that need to be made. It is also irrelevant. What we have is just that what we have. When has some economic factor never been at work in our market? The bottom line is that most operators have no formal strategy to begin with on how to build better businesses.

    Does that mean we don’t have economic problems? Not at all. When has any economy ever not had problems? But it doesn’t mean we have to heed the rantings about how the sky is falling either! Especially when there are clear signs to everyone with the proper eyesight, that with the right strategy and resources in place, you don’t have to be held hostage to those problems in the first place!

    The bottom line is that operating a restaurant business in today’s economy requires you to be smarter than you were 24 hours ago and let alone a year ago.. We can no longer subsidize poorly organized or badly run operators and we shouldn’t.

    The success of a restaurant is determined way before the key is put in the newly hung door. It starts with a formal strategy for success. Anything less and it’s only a matter of time. And cost control has to take place at every juncture imaginable by being built into the businesses operating systems as well as the culture of the business and alone cannot overcome any negative circumstances. No one ever shrank their way to greatness. The only way out is to grow your way out of whatever circumstances you find yourself in – period.

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