Osteria 545, an Italian restaurant and bar in Paulsboro, plans to close after nearly five years due to mounting economic pressure, the owners announced this week.
Rich and Lisa Shagat, the restaurant’s owners, said in a social media post Monday evening that rising costs have made it impossible to continue operations.
“Over the past year, we’ve witnessed a significant shift — fewer people dining out, while the costs of food, liquor, electricity, and other essentials have risen sharply,” the owners said. “These increases have far outpaced what small, independent restaurants like ours can reasonably absorb, making this decision both heartbreaking and necessary.”
The restaurant, located at 545 W. Broad St., attempted to adapt by adjusting menus and tightening budgets, but the owners said profit margins continued to shrink.
In their announcement, Rich and Lisa Shagat described Osteria 545 as more than a business, calling it “an extension of our home” where they built relationships with customers who “became like family.”
A specific closing date was not listed in the announcement.
Customers who placed deposits for future events at the restaurant will be contacted personally this week to arrange next steps, according to the announcement.
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Dining and Cooking