With rising costs continuing to be a concern for restaurant owners, a Paulsboro Italian restaurant has decided that enough is enough.
After five years, Osteria 545, located at 545 W. Broad Street in Paulsboro, has served its last meal, making the announcement on its social media page.
The Economic Climate: Too Much to Absorb
“It’s with heavy hearts that we share this news: after nearly five years, we’ll be closing our doors,” the restaurant posted. They added that, in the end, the economic pressures have become too great.
A Heartbreaking and Necessary Decision
The owners of the restaurant, Rich and Lisa Shaget, said they have witnessed fewer people dining out, coupled with rising costs, which helped them make their decision.
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. These increases have far outpaced what small, independent restaurants like ours can reasonably absorb, making this decision both heartbreaking and necessary.
They said they tried to tighten the menu and the budget, but in the end they just could not make it work.
“The margins continued to shrink, and the weight became unsustainable.”
Osteria 545 was a chef-driven kitchen and bar that focused on Italian American classics with a modern-day flair.’
While they did not announce a specific closing date, they did alert people who had placed a deposit for a future event that they will be contacted personally this week to arrange the next steps.
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