A Food Chain Owner Now Makes Unexpected Closure in Missouri

A food chain owner now makes an unexpected closure in Missouri due to an unfortunate rise in crime in the area.

Todd Johnson, the owner of Strip’s Chicken, promptly shut one of his Kansas City, Missouri spots.

Johnson opened his 420 W. 85th St., in the Waldo neighborhood of the city, branch three years ago but listed it as closed at the start of May.

The business owner said several factors influenced him but crime tipped him over the edge, according to The Kansas City Star.

“I had eight break-ins in two years, and the only reason we haven’t had any since last summer is because we stopped taking cash,” he said.

Johnson owned and operated two other Strip’s Chicken locations in Kansas.

He said crime has not been an issue at his other spots.

“My store in Olathe’s been open for eight years with no burglaries,” he said.

“It’s very easy to see that Kansas City has a major problem when you just can drive 15 miles away and we don’t deal with any of this.”

His Strip’s Chicken locations in Olathe and Merriam have remained open.

He shared that a recent incident at his Waldo store made him consider closing.

Johnson recalled that the store had to call the police after a woman was supposedly in the bathroom doing drugs.

The business owner said his staff was hesitant about cleaning up the toilet as they were worried about fentanyl poisoning.

“And I thought about it for a second and I said, ‘You’re right. That is dangerous. You shouldn’t have to do that.’

“And that’s really when I decided it was time to close the restaurant.”

Johnson also complained that rising crime had greatly increased his insurance costs in Waldo.

“I’ve never even submitted a claim,” he said.

“In two years, the insurance on our building in Waldo has gone from $9,000 a year to $16,000 a year to now, if I would have renewed in June, $22,000 a year.”

He added that his other locations were hit with slight insurance increases but alleged an agent told him why Waldo was hit hardest.

“In Olathe and Merriam, we’ve gone up, too, but only by like 10 or 15% a year,” Johnson said.

“The agent told me it’s because of all the crime in the area.

I talked to two other insurers who said they won’t even write policies in this neighborhood anymore.”

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Also Read: An Unexpected Retailer Is Now Closing All Stores in Illinois

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Market News Today - A Food Chain Owner Now Makes Unexpected Closure in Missouri.
Market News Today – A Food Chain Owner Now Makes Unexpected Closure in Missouri.

A massive clothing retailer is now closing all 540 stores in just six weeks after unexpectedly filing for bankruptcy.

Liquidation sales will be held at rue21 outlets across the US as bosses rush to clear the last remaining stock.

The clothing retailer has entered bankruptcy and bosses have announced plans to close all 540 remaining stores within six weeks, reports The US Sun.

It is the third time in less than 25 years the fashion retailer has entered bankruptcy, per Bloomberg.

Court documents seen by Reuters revealed the company has more than $190 million of debt.

The chain has 540 stores across the US and 4,900 workers are set to be impacted.

Outlets are to slam shut within four to six weeks, according to court papers.

Bosses also announced plans to sell the company’s intellectual property.

The company narrowly avoided going into bankruptcy in October 2022.

Chiefs filed for bankruptcy in 2017 as they rushed to clear around $700 million worth of debt.

Bosses shuttered 400 stores as well and renegotiated leases.

Execs identified the rise of online shopping and changing consumer trends as reasons behind the bankruptcy.

Michele Pascoe, the interim CEO, also alluded to the impacts of competition and inflation.

The company also filed for bankruptcy in 2002.

At its peak, the company had more than 1,000 stores across the US.

The chain has dozens of outlets across several states, including Florida, Georgia, Illinois, North Carolina, Pennsylvania and Texas.

The teen fashion retailer is not the only clothing chain that has entered bankruptcy over the past year.

Last month, Express chiefs filed for bankruptcy, and at least 100 stores are set to close.

Also Read: Retirees Will Now Receive More Money For Social Security

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Market News Today - A Food Chain Owner Now Makes Unexpected Closure in Missouri.
Market News Today – A Food Chain Owner Now Makes Unexpected Closure in Missouri.

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