Several Charlotte businesses shutdown in recent weeks

CHARLOTTE, NC — A sign of failure  or signs of a growth in Charlotte? However you’d like to look at, closed signs seem to be popping up more often lately.

“It’s just a lot of turnover uptown altogether. I think it’s a sign of the times post-Covid,” said Uptown resident Ben Holmes.

Holmes lives and works in uptown Charlotte. We talked to him near Essex Uptown. A place he took his now wife on one of their first dates. Essex is one of many recently to announce it’s shutting down.

A city known for it’s restaurants, bars, and breweries has seen several close or closing within the last month. That includes Essex and The Bella Ciao in Uptown, Mattie’s Diner in Plaza Midwood, and in South End, Resident Culture, Red Clay Ciderworks, and Mazi.

James LaBar with Charlotte Center City Partners says inflation changed consumer spending, it also raised food prices by 36% since the pandemic. Combine that with labor shortages and a highly competitive market.

“We’re in a tough place for that sector right now.  So we have this natural churn that’s happening right now in Uptown South End and across Charlotte,” explained LaBar.

Despite tough times, the Charlotte carousel of restaurants continues. As one gets off the ride, another takes it’s place.

LaBar tells WCCB in 2024, 59 new small businesses opened in Charlotte. 63% of those were Food and beverage. LaBar says The city is on track to either meet or exceed that this year.