Financing

A wave of bankruptcies hits the restaurant industry

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Executive Summary: Plus, Maggiano’s appoints a Michelin-starred chef to a newly created post, Smalls Sliders hires a CFO and more restaurant executive news of the week.

The Bottom Line: The price of gas has been falling much of the year and is below $3 per gallon in some states. Will that give operators a sales boost?

CEO Noah Glass wrote in a letter that the business is strong but needs to be more efficient to remain profitable.

The highwayside family-dining chain is still losing customers. But the company says efforts to improve value and service are showing some results.