After five years in service and a second attempt to be the club spot in the Downtown area in Memphis, Issac Hayes Restaurant & Nightclub has gracefully taken a bow and closed its doors.
When someone asks you where to go in Downtown Memphis, TN they'll probably tell you either infamous Beale Street where the 24/7 club spots and bars reside or Peabody Place where the Muvico Theater, shops and cafes reside. Either way it goes, you'd never miss seeing Isaac Hayes sign displaying in bright lights on top of the Peabody Place building on 150 Peabody Pl.
Well sadly enough after five years in service and a second attempt to be the club spot in the Downtown area in Memphis, TN on the second floor of Peabody Place, Issac Hayes Restaurant & Nightclub has gracefully taken a bow and closed its doors. Sunday April 22 was Isaac Hayes Restaurant & Nightclub's last day of operating.
In a statement issued by Hayes, himself, he stated, "It's disappointing that the restaurant didn't work out. However, I would like to personally thank all the patrons who have supported the restaurant over these past years."
There was no mention of how many people would lose their jobs because of the closing.
The restaurant is stated to have closed due to poor incoming finances which mostly came from people coming on Friday and Saturday nights. Hayes, attempted in 2003 to return with a new look and new vibe after its first initial closing in the Summer of 2003. The remodeling included a bigger dance floor, better lighting and more. However it seems that this wasn't enough.
Issac Hayes Restaurant & Nightclub isn't the first business to close it's doors due to poor incoming finances, Tower Records which occupied the ground floor of Peabody Place closed due to bankruptcy. Both businesses occupied more than 18,000 square-foot of space. Could this have been the culpit? Too much space and not enough incoming traffic are not a good match.
According to reports Andy Groveman, senior vice president of Belz Enterprises which owns Peabody Place is stated to be currently looking for replacements.
Jack Belz, who is a partner of the restaurant with Hayes, stated that the closing will have no effect on the personal relationship with Hayes.