Beloved San Diego Restaurant 'Abruptly' Closes After 65 Years
According to CBS8, shocked employees were informed of the decision to close on Monday. All were let go, citing financial issues.
"Pretty much took him maybe two minutes and just said - I'm sorry, but effective immediately, we're closing our doors and gave some excuse of we're out of money," said Chris Tucker, a waiter who worked at the Red Fox for 18 years.
However, the official Red Fox Steakhouse and Piano Bar website says the location is "hoping to re-open in September if not sooner."
"Sorry, we are currently closed and are hoping to re-open in September if not sooner. We will miss you all and hope to see you very soon!" the website reads.
Tucker told CBS8 that any potential plans for restarting the business were not conveyed to the staff members who were dismissed.
Founded in the late 1950s, the interior of the Red Fox dates back to a 1560s pub in England. The materials were moved to California in 1926 and eventually turned into the Red Fox Steakhouse in 1959.
"The three original rooms, slightly different in design, have been combined to form a spacious 'tap room,'" says the Red Fox website. "The bar, back bar and the trim around the doors with the interesting small-carved figures come from Charles of London. The Tudor paneling and the fireplace with its finely carved mantel bear the date of 1642. The three arched panels tell the story of Rebecca and Isaac as found in Genesis, Chapters 24 and 27."
Originally, the Red Fox was part of the Lafayette Hotel, but in 2020, the restaurant closed down due to the pandemic and a planned relocation. Two years later, it reopened at 2223 El Cajon Boulevard.
Back in January, the Red Fox announced it was updating its hours and would be closed on Mondays moving forward.
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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands) June 30, 2025 December 31, 2024 Cash and cash equivalents $ 82,818 $ 56,776 Restricted cash equivalents 326 3,355 Marketable securities, at fair value 51,674 50,535 Restricted marketable securities, at fair value 29,258 25,105 Accounts receivable, net 292,210 330,907 Notes receivable — short-term, net 31,628 51,429 Other current assets 44,380 38,545 Total current assets 532,294 556,652 Property and equipment, net 28,215 28,198 Notes receivable — long-term, net 45,084 41,054 Goodwill 80,042 75,529 Other intangible assets, net 8,263 9,442 Deferred compensation funding 51,548 49,639 Other assets 56,754 42,258 Total assets $ 802,200 $ 802,772 Accrued insurance claims — current $ 24,578 $ 25,148 Other current liabilities 189,354 167,399 Total current liabilities 213,932 192,547 Accrued insurance claims — long-term 50,833 51,869 Deferred compensation liability — long-term 51,699 50,011 Lease liability — long-term 7,048 8,033 Other long-term liabilities 1,650 385 Stockholders' equity 477,038 499,927 Total liabilities and stockholders' equity $ 802,200 $ 802,772 Expand HEALTHCARE SERVICES GROUP, INC. RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES (Unaudited) For the Three Months Ended For the Six Months Ended June 30, June 30, 2025 2024 2025 2024 GAAP net (loss) income $ (32,366 ) $ (1,788 ) $ (15,138 ) $ 13,521 Income tax (benefit) provision (9,522 ) (198 ) (2,856 ) 5,807 Interest, net (1,976 ) 184 (4,186 ) 138 Depreciation and amortization (1) 5,001 3,679 8,879 7,210 EBITDA $ (38,863 ) $ 1,877 $ (13,301 ) $ 26,676 Share-based compensation 2,541 2,113 6,279 4,597 Adjusted EBITDA $ (36,322 ) $ 3,990 $ (7,022 ) $ 31,273 Adjusted EBITDA as a percentage of revenue (7.9 )% 0.9 % (0.8 )% 3.7 % Expand Reconciliation of GAAP cash flows provided by (used in) operations to net cash flows from operations (excluding the change in payroll accrual) For the Three Months Ended For the Six Months Ended June 30, June 30, 2025 2024 2025 2024 GAAP cash flows provided by (used in) operations $ 28,787 $ 16,319 $ 56,288 $ (9,714 ) Accrued payroll (2) (20,256 ) (18,677 ) (15,665 ) (1,862 ) Cash flows from operations (excluding the change in payroll accrual) $ 8,531 $ (2,358 ) $ 40,623 $ (11,576 ) Expand 1. Includes right-of-use asset depreciation of $2.1 million and $4.2 million for the three and six months ended June 30, 2025, and $1.9 million and $3.8 million for the three and six months ended June 30, 2024. 2. The accrued payroll adjustment reflects changes in accrued payroll for the three and six months ended June 30, 2025 and 2024. The Company processes payroll on set weekly and bi-weekly schedules, and the timing of payments may result in operating cash flow increases or decreases which are not indicative of the Company's quarterly cash flow performance. Expand Contacts Company Contacts: Theodore Wahl President and Chief Executive Officer Vikas Singh Executive Vice President and Chief Financial Officer Matthew J. McKee Chief Communications Officer 215-639-4274 investor-relations@ Industry: Retail Other Professional Services Health Consumer Other Health Professional Services Practice Management Managed Care General Health Hospitals Other Consumer Fitness & Nutrition Food/Beverage Nursing Get RSS Feed Healthcare Services Group, Inc. NASDAQ:HCSG Details Headquarters: Bensalem, PA Website: CEO: Ted Wahl Employees: 35,300 Organization: PUB Revenues: 1,715,682,000 (2024) Net Income: 39,471,000 (2024) Release Summary HCSG Reports Second Quarter Results, Exceeds Growth Expectations, Raises 2025 Cash Flow Forecast, Announces $50.0MM Share Repurchase Plan Release Versions English Contacts Company Contacts: Theodore Wahl President and Chief Executive Officer Vikas Singh Executive Vice President and Chief Financial Officer Matthew J. McKee Chief Communications Officer 215-639-4274 investor-relations@
