Fast casual dining restaurants hurt by consumer struggles

High Unemployment Makes IHOPto-Red Lobster Target Higher Income

NEW YORK: Rising housing costs and stubbornly high inflation are battering many consumers and the hit to their wallets is now hurting America’s low-cost restaurants.

Chains including Red Lobster, which is considering a bankruptcy filing, and TGI Friday’s Inc are becoming even more distressed as their labour expenses increase and more diners opt to eat at home.