MILESTONES: 75 Years and Counting

As part of our “100 Years and Counting” Milestones series, each week we will spotlight companies celebrating quarter century anniversaries up to their 100th centennial in honor of the NRA Show’s incredible 100 years of service.

In 1944 while the second World War was coming to a close in Europe, the US was still fighting actively in the South Pacific, which kept a vast number of US citizens away from home. The uncertain future didn’t stop businesses from moving forward and restaurants from opening their doors for the first time. Although 1944 was a strong founding year for restaurants and food service providers, only four will celebrate their 75th birthday in 2019; Piccadilly Restaurant, Ringside Steakhouse, Loeks Theatres, and Patsy’s Italian Restaurant.

Ringside Steakhouse and Patsy’s operate a single location each and have sales numbers well over $1M. In fact, Patsy’s (found in CSG’s High Volume Independent Restaurants) boasts being a favorite hangout among celebrities such as Frank Sinatra, Keanu Reeves, and Madonna. Patsy’s numbers continue to climb with a growth rate of 0.25% over last years numbers.

Loeks Theatres and Piccadilly have numbers considerably higher than their two 1944-founded counterparts. Loeks Theatres, now Studio C owns and operates eleven stores under five trade names: Celebration! Cinema (8), Cinema Carousel (1), Getty Drive-In (1) and Studio C (1). The primary source of revenue, according to CSG Chain Restaurant and Franchisor, is theatre admissions and on-screen advertising proving even after 75 years, people still love going to the movies.

Piccadilly is definitely the restaurant to keep an eye on. After 75 years they’re still pulling in over $200M in annual sales and have 41 locations in seven states. Piccadilly Restaurant is a cafeteria style service traditionally found mostly in office parks, colleges/universities, and health care facilities with an average store square footage of 7,500 to 10,000 sq/ft. In recent years there has been a strong push to rebrand, and the company has opened several “To Go” stores in malls and food courts. Having a smaller operating space allows the company to expand into the take-out market. The rebrand has proven successful; in the last year, CSG calculates sales numbers have increased by 2.51% and two new locations already opened in 2019.

Seventy-five years is an impressive number for any company to reach, but these four restaurants have more than risen to the challenge. They’ve exceeded expectations and know how to bring people back for more. Congratulations on making such a remarkable achievement.

CSG Editorial Team

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