Franchise News

Two Bucks Crisis: Iconic Chain Restaurant to Close Most Outlets Amid Financial Struggles

Apr 18, 2024 10:00 PM EDT | By Jep Collins

Empty restaurant

(Photo : Pexels/Pixabay)

A well-known restaurant chain, Two Bucks, has declared it will close nearly all its branches. The company, which started in Northeast Ohio, recently shared the "bittersweet" update with its customers.

Two Bucks Closes Four, Keeps Two Open

Two Bucks, a well-known restaurant chain, has announced it will close four of its six locations by the end of this week. The Lakewood, Middleburg Heights, North Olmsted, and Parma branches have all been sold. This decision leaves the Avon and Eastlake locations the only remaining open branches.

The Avon location, the first Two Bucks branch, will continue operating without any changes. In a Facebook post, the company attributed the closures to ongoing challenges in the restaurant industry that have been exacerbated since the COVID-19 pandemic. The post highlighted the increasing difficulties of operating in a post-pandemic economic environment.

Two Bucks opened in 2010 and stated that these closures are strategic steps to ensure the chain's sustainability and future success. The company described the decision as harsh, personally and professionally, but necessary for the company's long-term health.

The closing locations will soon be operated by other businesses, starting next week.

Two Bucks thanked its customers and staff for their loyalty and service. "We have cherished the opportunity to serve the local community and collaborate with many wonderful people from the area," the restaurant chain stated.

Also Read: Taco Bell's New Refreshing Drinks: Innovation or Imitation? Fans Debate Fruity Beverages' Similarity to Starbucks

Community Mourns Closing of Two Bucks

People in the restaurant

(Photo : Pexels/HelenaLopes)

Fans of Two Bucks expressed sadness in the comments section after the restaurant closures were announced. "The end of an Era," lamented one customer, reflecting the sentiment of many.

Patrons shared their favorite menu items and memories, highlighting the impact of the closures on their dining routines. "What? I order from Parma and Middleburg all the time. I'm so sad!!!" a Facebook user commented, showcasing their attachment to the local spots.

Another customer worried about future meals, asking, "Where am I going to get my chicken bacon ranch wrap from on almost a nightly basis?" Another echoed this sense of loss, recalling recent visits: "I was just there Saturday enjoying two-buck Guinness."

One hopeful comment stood out: "Hope the new joints leave one $2 special in place..." reflecting a desire for continuity amidst the changes.

"Lakewood has always been a top spot for us," said Cory Rowland, a founding partner of Two Bucks. He highlighted the vibrant neighborhood along Madison Avenue, home to popular spots like Barrio, Buckeye Beer Engine, and Mars Bar.

Two Bucks has built a reputation as the economical choice for dining and drinking, akin to a "two-dollar store of taverns." Initially, every menu item costs just $2, and while prices have since been adjusted, the restaurant still offers many items, including drinks, for just two dollars.

Rowland emphasized their business approach, "We try to bridge the gap between the mom-and-pop corner bar and a corporate restaurant. We keep our prices low while operating a scratch kitchen."

The chain prides itself on all-day, every-day day happy hour," with $2 specials on shots of Jameson and Tit and various domestic beers. The menu also features affordable bar snacks such as sliders and fried pickes and more substantial dishes like grilled burgers and a variety of mac and cheese options, all designed to be wallet-friendly.

Related Article: Red Lobster in Financial Crisis: Bankruptcy Consideration Amid Growing Fears

© 2024 Franchise Herald. All rights reserved.

Franchise News

Real Time Analytics