Tuesday's second-quarter earnings release provided more evidence the company's turnaround is progressing. Casual dining is an extremely competitive business with a crowded landscape, It is also littered with chains that could not survive. Denny's nearly joined them, more than once.
Back in 1997, Denny's parent company Flagstar filed for bankruptcy. When Denny's emerged from bankruptcy, its struggles continued, crushed by the weight of a heavy debt load. It was also hampered by the threat of obsolescence. Denny's was a well-known brand during my teenage years, with lots of advertising, but seemingly faded into oblivion over the subsequent decade.
That's one of the other difficulties for restaurant chains -- consumer tastes are always changing, and it's difficult to stay relevant.Case in point: I'd all but forgotten that Denny's was still a publicly traded company until the infamous 2009 Super Bowl breakfast giveaway ad campaign. While not nearly as powerful as the
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