The Frischâs Big Boy restaurant chain is in the middle of a major downsizing, which has been a very popular topic with our audience in the past few weeks. In todayâs Morning Briefing, we tell you what we know about why the company is doing this and which area restaurants have been affected. If you have thoughts or feedback on this newsletter or other news tips, please let me know at Greg.Lynch@coxinc.com. Want to read the digital version of the newspaper? Click here for our daily ePaper. The newsletter should take about 3 minutes, 17 seconds to read.
What went wrong at Frischâs? Experts point to ownership change and asset sales For the second time in six months, the Frischâs Big Boy restaurant chain is in the middle of a major downsizing, with eviction filings that could force the closure of a dozen southwest Ohio locations. ⢠Frischâs history: There were Frischâs cafes in Cincinnati in the early 1900s, but the first Frischâs Big Boy restaurant opened in 1947 in downtown Cincinnati. The business was controlled by the Maier family for generations, even after it became a publicly traded company. ⢠What people like: Known for their namesake Big Boy sandwiches, salad bars and pumpkin pies, Frischâs had at one point grown to more than 200 locations. ⢠What happened? In 2015, NRD Capital paid $175 million for the company that established Frischâs restaurants. Four months later, NNN REIT LP paid $47 million for 74 of the companyâs 121 stores. ⢠Locked into a bad deal: In a complicated deal, Frischâs now pays rent for the locations to NNN. The arrangement was believed to be for 20 years. With rent prices increasing every year, low-performing businesses needed to be shut down. ⢠Evictions: NNN Reit has filed eviction cases for more than 20 locations in multiple courts across southwest Ohio. ⢠Behind on rent: NNN Reit claims the restaurant chain is $4.6 million behind on rent.
Frischâs Big Boy shuts down more restaurants in latest wave of closures Multiple Frischâs locations have closed recently â restaurants in Springfield, Middletown and Lebanon in the past few weeks, after Beavercreek and Moraine stores closed in 2023. Several others, not all, are listed for eviction in a recent court filing. ⢠Recently closed locations: 1831 N. Bechtle Ave. in Springfield 3560 S. Dixie Highway in Middletown 1330 Columbus Ave. in Lebanon ⢠Previously closed locations in the last two years: 1231 N. Fairfield Road in Beavercreek 4830 S. Dixie Dr. in Moraine ⢠Other possible closures: Middletownâs second location, at 1800 Germantown Road, and one in Fairfield, 6638 Dixie Highway, are listed on eviction notices. ⢠How many are left? After recent closures, there are roughly 40 locations stretching from northern Kentucky through Cincinnati to the Dayton-Springfield region, according to the Frischâs website, with another 15-20 sprinkled through Indiana, Kentucky and southern Ohio.
Customers call Frischâs Big Boy closures âa loss to the communityâ Local customers have reacted to recent events. âIt would be disappointing if it were to close. The service has always been good here; itâs clean, and theyâve got great salad and breakfast bars.â â Virgil Bowers of Fort Wayne, Ind. âI come here seven days a week; I donât cook at home. Itâs affordable ... and when youâre old and single, you look for any excuse to get out of the house.â â Jim Moler, 83, about the routine heâs kept since about 1998. âThere are a lot of places to eat around here, but Frischâs is more of a family restaurant and one thatâs been around for a while. Itâs a place where seniors can meet and socialize, and we see plenty of young people here too. The food is good and the service is always great.â â Judy Smith of Huber Heights |