Mario Ponce, the owner of Takito Street in Lincoln Park, is closing the restaurant on February 8, concluding a challenging period that included closing two other restaurants in five months. Ponce cites rising costs, decreased sales, and competition from chains as key factors. Despite having a decade of success, 2024 has been particularly harsh, with Ponce expressing uncertainty about the future. Takito Street opened in 2019 and aimed to attract students with a casual vibe, but managing multiple locations amid tough market conditions proved unsustainable.
I just woke up and said, 'You know what I'm done because we're losing money. We've been losing money for a while, and just I need to stop losing money.'
We typically have a strong summer, except this summer wasn't strong. We typically have a pretty good fall. This fall wasn't strong. We typically have a pretty good winter. This winter wasn't strong.
#independent-restaurants #business-challenges #restaurant-closures #entrepreneurship #covid-19-impact
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