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SalsaQueen broke the news yesterday that Easton just lost another nightlife tenant as Martini Park has closed their doors. This news follows the recent departure of Gameworks in March.
Martini Park’s Columbus location opened in November of 2008, and served as the chain’s third location, but that opening was immediately followed the closure of their original Plano, Texas location. This leaves only their Chicago location in current operation. Scratch that. The Chicago location has also closed.
http://www.businessweek.com/smallbiz/content/apr2007/sb20070416_296932.htm
An OSU professor did a study in which 60% of restaurants close or change ownership within three years. That was a 2007 study I think the lending market has tanked since then.
Yeah, I’ve heard that stat quoted quite a bit (sometimes misquoted). I wonder if it really applies directly to Martini Park’s business model though, as I always assumed they were more of a nightclub/bar than a straight-up restaurant.
In the study they mention that the 60% rate is also common for small businesses in general.
Personally, my ‘entertainment’ budget is the first thing I would cut and martini’s are a very small, harder to justify, niche of the food pyramid. :)
ouch anytime a closing happens i feel for the employees ………..now saying that only time i visited was when espns colin cowherd did a remote from the location
I understand Easton’s draw as a lifestyle center (not just a mall) but personally I wouldn’t want to “go out” there. I have a hard enough time thinking about fine dining at what is, truthfully, still a mall. Personally, I’m happy to see that Easton isn’t succeeding (as least not 100%) as an end-all be-all destination.
Sounds like the organization also closed the Chicago location:
http://www.nbcchicago.com/around-town/food-drink/Martini-Park-Closes-its-Doors-chris-barish-95447704.html
I bet it is hard to locate bars like that off the “park st” strip, but I have seen Henderson Rd behind Kroger bars do very well. Since it was a corp decision, I wonder if that bar was sucessful and it was just a company-wide decision. The more they build apartments and condos around Easton, the better the chance of building a nightlife. Just like downtown…
Did you see that a Texas De Brazil has Easton show as coming soon on its website…does anyone know which location they will be taking? http://www.texasdebrazil.com/columbus
Uhm… yeah, they’re taking the old Martini Park location. Isn’t that why you posted that here?
More info, here: http://www.columbusunderground.com/forums/topic/texas-de-brazil-coming-soon-to-easton