Indian restaurant is closing its doors over a ‘lack of funding’
In a stunning turn of events, the owner of a popular Indian restaurant in India has closed his doors due to a lack of funding.
The owner of The Indian Restaurant, who is also the owner and founder of a number of Indian-themed restaurants in the US, has decided to close the restaurant in an attempt to raise the necessary funds to reopen.
His decision comes as Indian food and drinks giants Coca-Cola and PepsiCo are both planning to open new stores in the country.
A spokesperson for the restaurant, which is located in the suburb of North Park, told The Times Of India that the owner was not able to raise sufficient funds to continue operating the restaurant after the government announced a funding limit for the sector.
“We have not received any funding from the government so far.
We need to raise a minimum of Rs 4 crore for the next six months, which means that we will need to close down the restaurant permanently, in order to make room for the new store.
The new store is to be located near a mall in the area,” he said.
According to the restaurant’s owner, the funding restriction is the reason behind the decision to close.
“The government has asked the local corporates to make more investments in the state, which will increase the quality of the products in the stores.
The government is also making a push for restaurants to get permission from local authorities to open their doors,” the spokesperson said.
Meanwhile, the restaurant owners in India’s cities of Delhi, Mumbai and Chennai are also struggling to make ends meet.
According the Indian Express, the owners of three restaurants in these cities have also decided to shut their doors.
In the city of Delhi and Chennai, restaurants have been closed down as the government has decided that they cannot attract tourists due to the food shortages.
One of the owners, Pratap Singh, said that the government had been trying to raise funds for the opening of new restaurants but was unable to do so as they had been facing financial difficulties for months.
He added that the new outlets would help the local economy as there will be jobs in restaurants, but that the shops will still not be able to get new supplies.
“We will still be in business but the restaurants won’t be able get new ingredients for their products and the local shops won’t get new products either,” he told the newspaper.
There are several similar restaurants in India that have closed down over the last few months.
The owner told the Indian publication that he was not trying to be harsh towards the government as he just wanted to raise enough money for the closing of the restaurant.
“I want to give a good example to other businesses that are closing their doors in India,” he added.