Walking through Chapel Hill with my dad is like visiting a graveyard of lost friends.
As an alumnus of the school, he knows the ins and outs of Franklin Street, the best restaurants, bars and hidden gems. But he also remembers the places that were beloved during his time here that are no longer around. Echoes of the memories made in some of his favorite places in college that are now closed (Bub O'Malley's, for example, which is now The Gathering Place) reverberate through my ears each time we explore Franklin, not only from him but from each of his college friends as well.
Today’s small businesses of Franklin Street seem to be fading away as fast as they spring up, leaving behind store after store of empty space. Since the beginning of this semester, three restaurants on Franklin have closed their doors: Linda’s Bar and Grill; Dame’s Chicken and Waffles; and Capriotti’s.
Last year Chapel Hill lost many businesses, including Top of The Hill's Distillery and Basecamp. Though not all of these are small businesses, they still join a long list of other Chapel Hill stores that have ceased operations recently, especially since the COVID-19 pandemic.
COVID-related issues are a common theme when it comes to recent Franklin Street closures, despite us being four years removed from the start of the pandemic. In the case of Linda’s, it was lingering effects from COVID-19 in combination with debt accumulation that led to its closure. Ye Olde Waffle Shop, which opened in 1972, was also unable to stay open during the pandemic. The small, tight dining of the charming restaurant made it a Franklin Street staple, but also meant that the social-distancing restrictions of COVID-19 forced it to close.
Going further back, there's the Rathskellar, familiarly known as “The Rat,” a Chapel Hill institution that opened in 1948. Despite The Daily Tar Heel publishing a 1992 article with the title “The Rat has always been there… and it always will be," it closed in 2007.
Or there’s Pepper’s Pizza, a popular spot that closed in 2013 after serving Franklin Street for over 25 successful years.
According to CNBC, 60 percent of restaurants fail within a year of opening and nearly 80 percent will fail in five years. Staying open and amassing a loyal customer base for 20, 30, 40 or 50 years is a rarity and an accomplishment.
At that point, it is not a problem of popularity that causes a restaurant to close, but a combination of external factors like recessions, pandemics or rising inflation and rent forcing them to close their doors.
