Less than a year after its new, self-serve bar concept was launched, Shoot the Moon is shutting its doors for good.
is filing for Chapter 7 bankruptcy. The restaurant, which opened last July, allowed patrons to pour their own beer, wine, liquor, and cocktail straight from a tap wall.
"Today's our last day of service. We will stay open normal hours until 10 PM and then we will officially file for bankruptcy," said Kevin Floyd, the owner. Floyd has helped bring popular Houston staples like Anvil, Underbelly and Julep to fruition. His resume and experience were a recipe for success. But in 2022, those factors simply weren’t enough.
"The fundamental gross foot traffic that we needed to make the business cash flow positive just never materialized at this location," Floyd said. "I have never seen such a radical food cost increases across the board happens so quickly and sustain," Floyd said. "They're not coming down. I don't think we'll ever see cost of goods sold pricing from 2019 ever again.
While Floyd mostly attributes the business's shut down to its location, he acknowledges that supply chain issues and record-high inflation may have also contributed to its downfall post-pandemic.The Labor Department offered proof of what most of us already know: inflation remains historically high. FOX 26 Business Reporter Tom Zizka breaks down the new numbers.
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