Geo Concepcion, the CEO of The Greene Turtle, is navigating significant challenges as the restaurant brand faces a potential closure of its Towson location. Hired in 2019 to modernize the Maryland sports bar, Concepcion has previously claimed the title of turnaround CEO. The Greene Turtle Towson, which opened in 2022, was part of a $4 million flagship project that included plans for a sportsbook. However, this location is now struggling with declining revenue and has been at the center of controversy over its “Thirsty Thursday” promotions.
The Struggles of The Greene Turtle in Towson
Despite initial hopes, sales at the Towson restaurant have not met expectations. In its first year, it generated $1.8 million in revenue, $300,000 short of breakeven. During a recent liquor board hearing, Concepcion described the Towson site as “the most expensive and shortest-lived project” in The Greene Turtle’s history, which spans nearly 50 years.
Consequences of Promotions
- The liquor board has imposed a $1,000 fine on the restaurant.
- Its liquor license is suspended on Thursdays for the month of October.
The restaurant’s “Thirsty Thursday” events aimed to draw patrons but resulted in overwhelming crowds, sparking local concern. According to neighboring business owners, these promotions attracted large numbers of people, altering the area’s atmosphere.
Impact on Revenue and Future Plans
Concepcion noted that the complications have forced the Greene Turtle to reassess its business model. With foot traffic decreasing due to various factors, including the pandemic and competition, the restaurant’s financial stability is in jeopardy. The brand has also faced multiple closures, including the shutdown of locations in Westminster and Harford Mall due to low sales.
The Greene Turtle is currently dealing with issues stemming from unpaid rent in White Marsh after a location closed earlier this year. A lawsuit regarding this matter is set for trial this month.
Community Reactions
The effects of the Towson location’s struggles extend beyond the restaurant. Local business owners express concerns that the potential closure could ripple through the district. For example, Ken Leong of The Reservoir noted that the exit of a major player like The Greene Turtle would significantly impact surrounding businesses.
Looking Ahead
Despite current challenges, Concepcion remains optimistic. The Greene Turtle is exploring new revenue streams and adapting its strategies. The company recently opened a location in Tampa and has plans for further expansion into Oklahoma. However, locations that are no longer viable may close as part of a strategic reassessment.
As The Greene Turtle navigates this turbulent phase, the importance of diversifying revenue sources has become evident. Concepcion acknowledges the lessons learned from their recent experiences, emphasizing that the brand must evolve to survive in a changing market.
