Olive Garden Owner Says It’d Sure Be ‘Helpful’ If More Chains Went Bankrupt – Grub Street

Every day, predictions about the restaurant industry careening toward massive recession look more and more like reality. Last week, it was flatbread-sandwich purveyor Così that declared bankruptcy; this week, its Garden Fresh, the company that runs the nations 123 Souplantation and Sweet Tomatoes restaurants. At least 11 others have done the same thing since last December, among them chains like Old Country Buffet and Ryans, Johnny Carinos, Quaker Steak & Lube, Fox & Hound, Logans Roadhouse, and Black-Eyed Pea.

Even worse, at least for the industry itself, is how investors are reacting not well, in short: Jonathan Maze of Nations R…