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re: Restaurant Group Files For Bankruptcy After Minimum Wage Laws Harm Profitability
Posted on 7/9/19 at 8:45 pm to theronswanson
Posted on 7/9/19 at 8:45 pm to theronswanson
quote:
Wage increases in Seattle, San Francisco and Portland boosted the company’s wage expenses by a total of $10.6 million through its fiscal year end 2019, Bagley said. Revenue for the year ended May 31 was $176 million, down 1% from the prior year.
It’s kind of shocking when you see that. Wage increases in three markets increased its labor expenses to the tune of 5.7% of their entire revenue. That’s shocking.
This post was edited on 7/9/19 at 8:53 pm
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