Q1 2023 NEWSLETTER

JOHN PLEW CEO/Founder

In 2020, the pandemic threw us a curveball. Two years later, things remain challenging but thanks to you we have managed through the pandemic itself and more recently the “post” Covid environment which has presented its own set of challenges— dealing with inflation, the supply chain crisis, food, and labor shortages.

The great news is that we have weathered so much and have landed on solid ground. We saw our event business return to about 80% and we opened two new stores in 2022. We will be opening two more stores in 2023. Also, as of January 12th we closed our virtual online brands (Central Kitchen and Southern Jewel) for pick up and delivery to alleviate pressure on the restaurants and to continue to focus on core operating standards. Now our focus will be on growing Thirsty Lion Pickup and Delivery.

The rate of inflation for food costs has already peaked and will continue to moderate over the next few quarters. Thankfully, the supply chain should no longer be a stumbling block. For restaurants located in business districts that have relied on work lunches to drive sales, the ‘work from home’ continues to pose some challenges. We will continue to look for ways to reach new and existing customers and keep our restaurants growing.

Thank you for your hard work and commitment to this point of recovery. We are looking forward to an optimistic 2023.