‘Don’t spend $20 on an acai bowl’: gen Z are shunning private equity’s restaurant takeover
As more PE firms invest in food establishments, people are bemoaning the ‘same-ification’ of NYC’s restaurant scene Los Tacos No 1 is a classic New York success story.
After the Mexican-style taco joint opened in 2013, it quickly became a critic’s pick in the city’s paper of record , drawing long lines and a devoted lunchtime crowd.
As word spread about its juicy al pastor and handmade tortillas, it expanded to nine locations.
Then, this September, bad news struck : Los Tacos No 1 had received an undisclosed amount of funding from private equity firm TSG Consumer.
According to a press release, this cash would help Los Tacos pursue “thoughtful, founder-led growth”.
Customers were not so sure.
Social media posts quickly declared “the beginning of the end” for the chain, half-jokingly anticipating tiny portions of bad food .
Continue reading...
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on www.theguardian.com — the content belongs to The Guardian Business.
