Panzanella restaurant in Carr Mill Mall is shutting down after 14 years of business.
The restaurant is part of the Weaver Street Market Cooperative and originally opened to feature locally grown food and fresh ingredients.
Ruffin Slater, Weaver Street Market’s founder and general manager, said Panzanella complimented the market’s grocery store and its opening was another way to show the town’s residents how to buy local food.
But Slater said today there are many other restaurants serving local food in Carrboro. He said because of the competition, sales are down and costs are up and it is no longer possible for the restaurant to operate.
“Since the recession in 2008, the number of diners has gone down about 25 percent,” Slater said. “The lease is up at the end of the year, which is when the restaurant is set to close.”
Despite the decline in customers, Weaver Street Market’s 2013 Annual Report shows an increase in gross profit.
In 2011, Weaver Street Market made $26,955,343 in sales, while the report shows it has made $32,210,970 in sales so far in 2013. For 2013, the market’s gross profit is $11,811,113.
The report also shows the market had an eight percent sales growth in 2013, and its profit was up by 2.6 percent.
Slater said there is no plan for Panzanella to reopen at any point in the future. Carr Mill Mall, the restaurant’s landlord, is currently looking for another tenant to rent the space.