Market Tolerance for Executive Search Firms Survey
Rewind to two years ago and all anyone could talk about was the impending mass exodus of the baby boomers from the workforce and the gap we had been anxiously trying to preemptively fill. That was until the recession hit and forced the majority of companies to scale back…even in the restaurant and hospitality industry. In fact, in just the last
year, the unemployment rate for restaurants alone rose from 7.8% to
9.8%. So, not only are baby boomers still planning to retire, but companies.
Recruiting
I remember the time I interviewed with a 50-person recruiting firm in Silicon Valley. Actually, I don’t remember all the details about the interview, but I remember well the queasy feeling it gave me.
Big News
GREER, S.C. – KAINOS PARTNERS HOLDING CO. LLC, operator of 56 Dunkin’ Donuts locations in New York, South Carolina and Nevada, filed for Chapter 11 bankruptcy protection this week. The four-year-old, Greer-based company, which has eight restaurants in development, also centrally manufactures doughnuts and baked goods for all Dunkin’ franchisees in the Buffalo, N.Y., market. Kainos’ filing with the U.S. Bankruptcy Court for the District of Delaware indicates its “liquidity crisis” resulted from recession-dampened sales and expenses tied to the manufacturing facility. The Dunkin’ franchisee listed between $10 million and $50 million in both assets and liabilities, including $24.9 million owed to THE CIT GROUP and $4.2 million owed to franchisor DUNKIN’ BRANDS INC.Executive Movements
DALLAS – BRINKER INTERNATIONAL INC. has appointed KELLI VALADE chief operating officer of its Chili's Grill & Bar and On The Border Mexican Grill & Cantina divisions. She will oversee operations for more than 1,400 Chili's and On The Border restaurants nationwide. A 13-year veteran of Dallas-based Brinker, Valade most recently was senior vice president for human resources for Chili’s and On The Border.
REAL MEX RESTAURANTS INC. has named LOWELL PETRIE senior vice president and chief marketing officer, effective July 20, the company said Wednesday. Petrie for the past year has headed up marketing at the Daphne’s Greek Café chain. Prior to that, he oversaw marketing for Mimi’s Café, Ruby’s Diner, Famous Restaurants, Denny’s and El Torito Restaurants, which is now owned by Real Mex.
T.G.I. FRIDAY’S INTERNATIONAL has named JEAN BAUDRAND to the new post of vice president of international business development. Baudrand most recently was president for Quizno’s European and Middle East division. He will be based at Friday’s Carrollton,Texas headquarters. Friday’s, a division of Carlson Restaurants Worldwide, has more than 900 casual dining restaurants, with more than 320 of those in 59 nations outside the United States.
Financial Overview
Oceanaire files for Chapter 11
Seafood restaurant chain The Oceanaire Inc. has filed for Chapter 11 bankruptcy protection and closed four of its restaurants. In a press release, the Minneapolis-based upscale seafood restaurant chain, which has one restaurant in Houston at The Galleria, said it had reached an agreement with secured lenders for a restructuring plan “that will substantially improve the cash-flow generation of the company.” In its bankruptcy filing, the company listed assets and debts of between $10 million and $50 million.
BENIHANA INC. reported Monday that its fourth-quarter profit was sliced in half because of one-time expenses related to the retirement of its chief executive.
RUTH’S HOSPITALITY GROUP INC., the parent to RUTH’S CHRIS STEAK HOUSE and MITCHELL’S-branded steakhouse and seafood restaurants, said Friday it had filed documents with regulators that would allow it to raise up to $200 million in capital.
Wingstop Reaches Six Consecutive Years of Comp Restaurant Sales Increases. End of Q2 Marks 24 Quarters of Positive Comp Store Sales for National Chicken Wing Chain What do you get when you combine 1.7 billion chicken wings, 2.3 million gallons of Original Hot wing sauce and 60 million orders of fresh-cut seasoned fries? If you're Wingstop you get exactly six years of increased comparable stores sales. Today Wingstop, the nation's fastest growing chicken wing chain, announced comp store sales had increased for the 24th consecutive quarter - or six years.
Executive Chat
Featuring Ralph McCracken, COO of Dick’s Last Resort I Thanks to two restaurant veterans, a cantankerous old guy named Dick is getting a new and reenergized life.
I’m talking about the Bermuda-shirt clad, beer-drinking Dick with a wary frown who presides as mascot of restaurant chain Dick’s Last Resort, a restaurant chain that bills itself “the joint your mama warned you about.”
Ted Moats and Ralph McCracken lead the management team that acquired DLR Restaurants in January. Moats is a co-founder of Logan’s Roadhouse, which he sold in 1998 to Cracker Barrel parent CBRL Group. He’s also a 30-year Captain D’s franchisee, a Wolfgang Puck Express developer, and former CEO of H&C Racing Inc., which developed Nascar Café. McCracken is a founder of Ruby Tuesday’s and Spinnaker’s Restaurants as well as a former key executive at Logan’s.
Dick’s Last Resort has locations in Dallas, San Antonio, Myrtle Beach, Las Vegas, Chicago, Boston, and San Diego, with six corporate restaurants and one licensed unit.
“I haven’t been this excited about a concept in a long time,” said McCracken. “The concept is about having fun, entertainment, and live music.”
The chain was previously owned by Dallas entrepreneur Steve Schiff. McCracken and Moats researched the company for a year before making the deal.
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Senior Director of Marketing Opportunity - Denver, CO
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A leading QSR company requires a Senior Director of Marketing in Denver, CO, to lead the
marketing department. Looking for a metrics-savvy marketer with a passion for developing and executing
growth strategies as well as improving same-store sales performance for the company’s corporate, franchise,
and licensed divisions. This individual will report to the Chief Concept Officer.
This is an opportunity to join a market leader committed to continuing growth and innovation, with a strong,
dynamic brand and a company culture that values new ideas, creativity, diversity, community involvement,
and a fun, informal atmosphere.
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- The Field Marketing Manager will develop, coordinate, and execute local, regional and companywide promotions that increase customer transactions, check average, and loyalty for the corporate brand. Work with existing approved agencies to develop needed support materials for programs such as display ads, billboards, coupons, etc. Direct agencies to negotiate with media outlets to maximize local TV, cable, and radio promotional activities. Prepare and disseminate communications and instructions to affected restaurants in advance of promotional launches.
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Field Marketing Manager - West
- The COO will be responsible for the execution and profitability of all operations for this international multi-billion dollar Brand. An integral part of senior leadership, the COO will lead the charge to improve operations and grow the concept both domestically and internationally. COO leads the national operations team, directly supervising operations, operating systems, training and business development. Gives direction and engages the team to drive business improvements in sales and profit through people and quality. Ensures each team upholds the standards and reputation of the brand while enhancing guest satisfaction and franchisee profitability.
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Chief Operating Officer - East
- Business Development position for major restaurant company’s sports and entertainment division. REQUIREMENTS: High energy, self-motivated individual with prior food and beverage concession sales experience for sports arenas, theme parks, arts centers, etc. at a national level.
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