Palm Beach Post

With a so-so winter season over, and the slug­gish summer season upon us, many restaurateurs are throwing in the dish towel.

"This is the highest number of listings I've had in 10 years," said Tom Prakas, a veteran restau­rant broker with the Prakas Group in Boca Raton. Prakas said he has about 100 South Florida restaurants listed for sale, almost double last year's number.

"There are more restaurants available (for sale) than there have been in years," agreed Richard Lackey, a restaurant broker ' Prakaswith the Lackey Cos. in Palm Beach Gardens.

Lackey and Prakas don't want to give up names just yet. Restaurant owners like to keep sales a secret to maintain their hold on staff and cus­tomers. But it's no surprise that a number of the restaurants that are up for sale are clustered in the Palm Beach Gardens area.

With a high failure rate (between 80 percent and 90 percent), owning a restaurant is never an easy venture, even in the best of times.

"But now you have the economic hardships on top of it," Prakas said. "I try to be an optimist, but I don't see any bright spots. Commodities prices (for food) are going up, and there's a fuel charge on all restaurant deliveries."

With sky-high gas prices, there's another new problem for restaurants: finding adequate help, said Alan Koch, a restaurant broker with Score Realty Inc. in Palm Beach Gardens.

Koch said many restaurants in northern Palm Beach County hire workers who live in Martin or St. Lucie counties. These days, the prospect of driving a long distance to work a few hours and hope for tips doesn't seem like such a great HeaT

Lackey and Koch noted that eateries led by seasoned restaurateurs, such as John Spoto or Jim Taube, are doing well despite the downturn. And restaurants at the very high end, including well-known brands, also are OK, Prakas said.

Email The Prakas Group