114:, with 14 properties as collateral; during the 1990s, the company sold properties, closed restaurants, and changed its business strategy to improve profitability. National Restaurants Management filed for chapter 11 bankruptcy protection in 1999; the Riese Organization, as a subsidiary, was not affected, and reorganization in 2000 placed National Restaurants under the Riese Organization.
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that his company "will be much less known for fast food," by opening more casual dining eateries with table service. At that time, the company had about 75 restaurants, and owned 25 buildings, collectively generating $ 100 million in annual revenue. About 60 of the company's restaurants, contributing
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In 2015, former staff members of a T.G.I. Friday's restaurant owned by Riese sued the company, alleging racial discrimination. Riese closed a Friday's location on 34th Street whose service staff was mostly Black, and hired only one of the Black workers when they opened another Friday's location one
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Although Riese's food court restaurants took and fulfilled orders from different retail units, sometimes on separate floors of a building, they had a centralized kitchen to reduce operating costs. This violated the terms of many franchise agreements, although the Rieses used their wealth and real
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in 1983 that they had bought and sold as many as 25 restaurants in one month. The brothers incorporated
National Restaurants Management, Inc., to acquire and operate restaurants, after a court had ruled in 1953 that the Riese brothers were real estate brokers, and that they could not claim lower
182:. The union criticized Riese's practice of closing a restaurant after it became unionized, laying off all staff, and then reopening a non-union restaurant at the same location. Dennis Riese defended the practice, saying that his company was replacing restaurants that had gone out of style.
171:. This caused a public relations crisis for Riese and Dunkin', which resulted in lawsuits and the termination of the franchise agreement. In 2009, Riese closed its 12 Dunkin' restaurants and one Dunkin' food cart, and three days later, all 13 locations reopened as the first
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location; after the Riese family won, they opened additional food courts with as many as eight brands in one location. By the late 1980s, the Riese
Organization had licenses to run operations for 28 franchises in New York City, most of them on an exclusive basis.
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estate holdings to exert leverage over brand owners. In the 1990s, Riese took the unusual step of cobranding its food courts and franchised restaurants with "Riese
Restaurants" on signage, prompting an unsuccessful lawsuit from
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Irving Riese died in 1990. His brother Murray Riese died in 1995. Murray's son Dennis operated the business until 1988, when he left the firm; he returned in 1991, and became the chief executive after Murray's death.
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Dennis Riese said in 2019 that he intends to wind down his company’s restaurant business due to rising wages, changing labor laws, and changes in the retail landscape. He announced an investment in
Loudpack, a
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In 1972, the Riese
Organization had about 150 restaurants in its portfolio, making it the United States's largest privately-owned restaurant business. By 1989, the company had about 300 restaurants.
663:("Lindy's, of course, still exists, but not in its original form. The name is owned by the Riese organization, which foreshadowed the current theme craze with its own nostalgic revival.")
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block away. The lawsuit alleged that managers referred to the former restaurant and its dark-skinned staffers in derogatory ways.
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Between 1996 and 1999, the Riese
Organization had a labor dispute with workers represented by Local 100 of the
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The Riese
Organization closed its web site in 2017 out of concerns that it was not compliant with the
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that is heavily invested in real estate and in franchised fast food and casual dining restaurants in
205:, to appeal to tourists who would recognize a familiar name. The company has operated franchises of
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name, trading on the nostalgia of the former restaurant. The company also owned
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about one-third of Riese's revenue, were fast food restaurants; Dennis told
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troubled restaurant properties after quickly refurbishing them. Murray told
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business based in
California, which he sees as an opportunity for growth.
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601:"Former TGI Fridays employees sue company over racist hiring practices"
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627:"NYC restaurant chain takes down website to avoid accessibility suits"
237:. The company has also developed its own restaurant brands, including
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385:"Irving Riese, 71, a Restaurateur Specializing in Fast-Food Outlets"
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Most of the Riese
Organization's restaurants have historically been
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rates on restaurants that they had held for less than three years.
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260:, reopening many of its former restaurants under other brands.
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that he did not intend to increase his fast food holdings.
575:"Riese and Restaurant Union Accept Contract After 3 Years"
85:, sued Riese for planning to colocate a Roy Rogers with a
356:"Murray Riese Is Dead at 73; An Innovator in Restaurants"
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Longchamps to Sell Luchow's And 4 Others for $ 8-Million
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franchise infested with rats, one of which was eating a
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320:
International directory of company histories, Vol. 38
497:"Not With Our Doughnuts, Chain Says to a Franchisee"
471:"Riese funds joint ventures as Cuomo backs cannabis"
323:(2001 ed.). St. James Press. pp. 385–388.
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193:, which Dennis Riese said might prompt a lawsuit.
26:) is a privately-held investment company based in
549:"Baker's Dozen of Dunkin Donuts Changing Stripes"
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110:The company took a $ 140 million loan from the
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180:Hotel Employees and Restaurant Employees Union
42:Irving and Murray Riese, two brothers born in
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735:Investment companies based in New York City
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672:Hammer, Alexander R. (29 September 1971).
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523:"Dunkin' Donuts Sues Shop Owner Over Mice"
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354:Thomas, Robert McG. Jr. (July 20, 1995).
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573:Greenhouse, Steven (January 25, 1999).
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469:O'Flanagan, Linda (January 16, 2019).
443:Fickenscher, Lisa (January 12, 2013).
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280:Hollie, Pamela G. (October 30, 1983).
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112:Bank of Tokyo–Mitsubishi Trust Company
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521:Weiser, Benjamin (January 5, 1999).
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383:Fowler, Glenn (December 11, 1990).
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625:Olson, Walter (February 3, 2018).
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409:Frumkin, Paul (August 21, 2000).
725:Commercial real estate companies
651:Asimov, Eric (August 16, 1996).
599:Behr, Kristina (March 1, 2015).
282:"THE FAMILY THAT FEEDS NEW YORK"
16:New York City investment company
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191:Americans with Disabilities Act
157:In 1998, the front page of the
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417:. No. 34. pp. 4, 6.
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547:Ross, Scott (July 10, 2009).
495:Newman, Andy (May 24, 2003).
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720:Restaurants in New York City
175:locations in New York City.
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122:In 2013, Dennis Riese told
83:Roy Rogers restaurant chain
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706: (archived 2017-08-13)
244:The company purchased the
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449:Crain's New York Business
125:Crain's New York Business
653:"Times Square a la Mode"
445:"Fast-food king no more"
415:Nation's Restaurant News
411:"Riese exits Chap. 11"
254:Longchamps restaurants
227:Roy Rogers restaurants
139:recreational marijuana
118:Pivot to casual dining
102:Decline and bankruptcy
93:ice cream shop in one
20:The Riese Organization
256:. The company bought
163:showed a Riese-owned
79:Marriott Corporation
215:Beefsteak Charlie's
679:The New York Times
658:The New York Times
579:The New York Times
527:The New York Times
501:The New York Times
475:Real Estate Weekly
389:The New York Times
360:The New York Times
286:The New York Times
258:Childs Restaurants
81:, which owned the
60:The New York Times
317:Pederson, Jay P.
223:Chock full o'Nuts
203:chain restaurants
197:Restaurant brands
65:capital gains tax
52:midtown Manhattan
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95:Times Square
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48:luncheonette
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219:Tim Hortons
173:Tim Hortons
91:Häagen-Dazs
714:Categories
264:References
211:Houlihan's
75:food court
423:229289385
252:and four
231:Pizza Hut
87:Pizza Hut
32:Manhattan
684:Luchow's
419:ProQuest
250:LĂĽchow's
56:flipping
702:at the
246:Lindy's
131:Crain's
38:History
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233:, and
89:and a
44:Harlem
605:PIX11
24:/ris/
638:2023
612:2023
586:2023
560:2023
534:2023
508:2023
482:2023
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325:ISBN
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235:KFC
50:in
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.