Food Outlets Closing In Atlantic City, Ocean City & Elsewhere?

It’s impossible to miss how many restaurants and other food outlets are closing after having successfully operated for many decades.

Wards Pastry in Ocean City closed yesterday after more than 98 years in business.

They cited issues from the COVID-19 pandemic, supply chain issues and associated costs and difficulty in attracting and maintaining employees.

It’s a perfect storm recipe for the kind of harsh reality we have been seeing this year.

Last week we shared exclusively that the Pic-A-Lilli Pub of Atlantic City will also close after more than 30 years in business.

We know of other establishments in Atlantic and Cape May County that are currently for sale or also contemplating shuttering their doors forever.

Additionally, there are a number of long-time establishments that are now closing one or two days per-week, on a year-round basis.

Angeloni's II Restaurant and Lounge of Atlantic City is now closed on Monday and Tuesday. Owner Alan Angeloni had operated seven days per-week for the past 50 years.

Steve and Cookies of Margate City, New Jersey is now closed on Tuesday. Owner Cookie Till had operated seven days per-week for decades.

These are just two examples. Many, if not most are also reducing their hours of operation and the number of days open.

What is it about this era … that so many things which had worked for generations, are no longer possible?

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It’s important to note that it is not only the boutique, smaller restaurant owners that have been forced to make these difficult decisions, to ramp down operations.

Atlantic City Casino restaurants are also closing for one or two days per-week, even more during the summer season.

I have been projecting a very challenging shoulder and off season ahead.

The Atlanta Federal Reserve Board has downgraded its 3rd Quarter, 2022 GDP estimate from 2.6 percent increase on September 1, 2022 to just .5 percent on September 15, 2022.

In just two weeks, look how this highly regarded estimate has declined. Interest rates are projected to continue to rise sharply. This will also make the cost of doing business much more expensive in every way.

You can expect to see more closings and operating schedule adjustments, as well as staffing layoffs over the next few months ahead.

Exacerbating the problem is the fact that all Covid relief money runs out as of next week.

It’s a time of significant change.