Larry Kosmont, President & CEO of Kosmont Companies, was recently quoted in a Los Angeles Business Journal article entitled “Downtown L.A. Takes Bite Out of Restaurants.” The article focuses on the challenges associated with managing a successful restaurant in Downtown Los Angeles and cites the net loss in restaurants that Downtown Los Angeles has observed in the last year (less than the national average of 1% growth).
Within the article, Kosmont comments that visibility is a significant contributor to a restaurant’s success, and that many restaurants in Downtown Los Angeles, such as the now closed Soleto (used to be located within the 801 Tower at 801 S. Figueroa Street in the financial district), suffered from occupying what Kosmont refers to as “B Locations”.
The “taste” of retail is changing in Downtown Los Angeles. Kosmont Companies looks forward to sampling the new flavors that become available in the coming weeks, such as the reopening of the Historic Clifton’s Cafeteria (648 South Broadway Street, 90014) and the grand opening of what will be called “Le Petit Paris” (located at 420 South Spring Street, 90013).
Read the full article here: Restaurants Struggle LA Bus Journal 8.24