And if current conditions persist, there is a high probability that it will not be the last. Restaurants have already expressed worry about the growing crime situation in Minneapolis. On top of that, they face overly restrictive capacity limits that have made business highly unprofitable.
And this will be worse in the winter. Up to date, more than 50 restaurants have closed in Minneapolis since the pandemic lockdown. And this trend is not specific to just Minneapolis.
Other cities, like Duluth , are also facing closures due to Covid related restrictions. However, things could get even worse for the hospitality industry. Each of the restaurants is its own separate LLC with real estate, leases and liquor licenses to transfer.
Roberts and Pete Mihajlov founded Parasole in and were instrumental in elevating the Twin Cities dining scene through a succession of notable restaurants.
Their first was Muffuletta in St. Parasole-owned Il Gatto succeeded Figlio but lasted less than two years. The company also gave birth to Buca di Beppo and Oceanaire before sending both on their way as independents.
Roberts will continue to serve as CEO. Mihajlov and another longtime partner, Kevin Kuester, will retire, Clayton said. The rest of the senior staff will continue on through the transition.
Business reporter Patrick Kennedy covers executive compensation and public companies. He has reported on the Minnesota business community for more than 20 years. Home All Sections. Please Sign In and use this article's on page print button to print this article.
Paul Business Journal. Deadline: Friday, March 6, See nomination details. Related Content. Back to Parasole Home. Our Company Restaurants as unique as the people they serve Parasole restaurants are local hangouts and citywide destinations.
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