ESPN Zones To Shut Down

[DToTheJ]

Five "ESPN Zone" locations in New York, Chicago, Washington, Baltimore and Las Vegas are closing later this month due to economic concerns. Two additional locations in Denver and Atlanta were shut down last year.

The two remaining ESPN-themed eateries - both located in Southern California and not operated by ESPN - will not be affected.

Full story:
http://www.multichannel.com/article/453606-Zoned_Out_Disney_To_Shutter_Five_ESPN_Restaurants.php

 

[FreddyE1977]

yet another example of how straying too far from your core business is not always a good strategy

 

[imhomerjay]

Were it not for the fact that businesses whose core happens to be restaurants also are having hard times. It isn't about ESPN slapping its name one something else, it's about a bad market.

 

[BRice16]

They were all actually making money, but not enough that Disney felt is was worth their time. Sort of like the Disney Store, which they were prepared to shutter, despite being reasonably profitable, until the Children's Place people agreed to buy the stores. Disney actively sought restaurant companies to buy and expand the concept, but found no takers.

 

[hubcity]

They were all actually making money, but not enough that Disney felt is was worth their time. Sort of like the Disney Store, which they were prepared to shutter, despite being reasonably profitable, until the Children's Place people agreed to buy the stores. Disney actively sought restaurant companies to buy and expand the concept, but found no takers.

Funny thing is, they then bought them back after Children's Place mismanaged them, at a significant discount.

(A lesson for Citadel?)

 

[imhomerjay]

Not surprising a buyer wasn't forthcoming. Not the best time to be coughing up that cash.

 

[Sammi Brie]

They were all actually making money, but not enough that Disney felt is was worth their time. Sort of like the Disney Store, which they were prepared to shutter, despite being reasonably profitable, until the Children's Place people agreed to buy the stores. Disney actively sought restaurant companies to buy and expand the concept, but found no takers.

Funny thing is, they then bought them back after Children's Place mismanaged them, at a significant discount.

(A lesson for Citadel?)

Reads like Australia's Kerry Packer's Nine Network: he sold high, and after the bust of 1987, he bought low, making a lot of money in the process. (He founded the network, too!)