Sharp rent increases and rising costs for a diminishing pool of labor have restaurateurs along Boulder’s Pearl Street scrambling to evolve and remain profitable.
Similar challenges are facing eateries in the Denver-metro area and along the Front Range.
The news that The Cheesecake Factory will be leaving its Pearl Street location at the end of the year, after nearly 20 years in operation, is the latest sign of the coming change.
Although Sean Maher, Downtown Boulder Partnership CEO, said The Cheesecake Factory’s decision to leave was more of a result of the Pearl Street location no longer fitting its businesses model of operating large restaurants in suburban locations, the rising costs of rent and labor, as well as an ever-increasing base of competition, certainly contributed.
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