The restaurant business has always been financially risky.

Typically, restaurants are either in business for decades or they fail within a year or two.  Sadly, the latter often tends to be the case.

That's one of the main reasons that it is so difficult to secure funding for a restaurant.  Banks have never been excited to hand over stacks of money so that you can follow your dreams.

While restaurants have always had a high failure rate, it seems to have gotten even worse in the last few years.  Thanks to a number of reasons, including the pandemic and the high levels of inflation, we have seem some of the most well established restaurants close their doors since 2020.

It looks like another Maine restaurant will soon close permanently.

 

My Buddy's Place in Bucksport, Maine

In a Sunday morning Facebook post, My Buddy's Place, a Sicilian-inspired restaurant in Bucksport, announced that they would be closing permanently.

The post explained that there were a number of reasons for the closure, including health issues.

The post said, in part:

This has not been an easy decision, as this restaurant has been more than a business—it has been a place where we’ve shared meals, laughter, stories and memories with all of you. I truly love the community that has been made, each of you individually have a purpose, place and belong. Thank you.
Please know, this is not goodbye. Our dream continues, and we fully intend to reopen in a new location in the future. So think of this as a pause—a “see you next time.”
From the bottom of our hearts, thank you for the love, support, and community you’ve given us. We can’t wait until the day we welcome you back again.

You can read the full statement HERE.

Their last day in business will be September 30th.

This news comes just days after the news that Evenrood's in Bangor will close permanently at the end of the year.

14 Maine Restaurants That Have Closed Since Being Featured on National Television Shows

Here's a list of 14 Maine restaurants that sadly have closed down since being featured on national television shows. Hopefully the list doesn't continue to get larger.

Data was researched from tvfoodmaps.com

Gallery Credit: Chris Sedenka

11 New Hampshire Restaurants That Better Not Close

Gallery Credit: Sarah Sullivan

 

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