This week on the Extra Serving podcast, a product of Nation’s Restaurant News, NRN editors Holly Petre, Sam Oches, and Leigh Anne Zinsmeister spoke about the upcoming minimum wage change in California.
This week, the NRN editors talked about the future of in-house delivery. Amid rising minimum wage costs in California, two Pizza Hut franchisees have decided to lay off more than 1,200 people. This comes in the wake of California’s minimum wage increasing to $16 at the beginning of 2024 and the upcoming $20 minimum wage for fast-food workers that will take effect April 1. Will all delivery be third-party soon?
Also, the editors talked about the first company of the year to go public: Pinstripes. The 15-unit chain was expected to go public last year after being acquired by Banyan Capital in June in a SPAC deal. With the anticipated public offering of Panera, will this year be filled with companies rumored to go public, or will there be surprises in the mix?
Finally, the NRN editors talked about the rumor that Tropical Smoothie Cafe is up for sale. After the whirlwind and continuing drama that is the Subway sale, Tropical Smoothie Cafe is hoping to make its mark on the market with an anticipated $2 billion price tag. This news came on the heels of a rumor that Chuck E. Cheese was also exploring a sale. Will this year be a busy mergers and acquisitions year?