Kuma’s Corner Calling it Quits in Fulton Market After Seven Years - Eater Chicago
"Kuma’s Corner’s seven-year run in Fulton Market is coming to an end. The burger restaurant will close on Friday, November 1, confirms owner Ron Cain. The original announcement came earlier in October via WGN-TV. Cain says workers were informed of the pending closure at 852 W. Fulton Market on Monday, October 1. After the shutter, three Kuma’s locations would remain: the original in Avondale, a suburban restaurant in Schaumburg, and another in Indianapolis. The chain debuted 19 years ago at 2900 W. Belmont Avenue. The restaurant was a pioneer, open in Avondale before venues like Honey Butter Fried Chicken, Parachute, Beer Temple, and Dmen Tap arrived. Kuma’s quickly gained credibility for loud music, often showcasing bands on independent labels. As the hype increased, folks not into that music scene began infiltrating the restaurant and Kuma’s turned down the volume. Ron Cain, Mike’s brother, bought the business and the restaurant added locations in Lakeview, Schaumburg, and Vernon Hills. Kuma’s also poured beer from local craft breweries, which appealed to suburban dads. When Kuma’s opened in Fulton Market, it was a departure from the independent vibe of the original. The restaurant wanted to compete in an area crowded with restaurants along Fulton Market and near Randolph Restaurant Row. The bar that once detested bros and ballcaps was now inviting them inside to watch the game and even advertising on sports radio. However, COVID arrived in 2020, and the pandemic crushed restaurants. Inflation remains, even after a vaccine. Ron Cain blamed inflation for the Fulton Market closure, saying economic forces made operating the restaurant unsustainable. The local craft beer scene has also imploded in recent years, with breweries closing at a record clip. Additionally, the parent company behind Kuma’s in June filed for Chapter 11 bankruptcy. At the time, Ron Cain said he expected the company to emerge from the filing as a health entity. In September, Ron Cain’s attorneys submitted a plan to pay off $3.4 million in debt (which includes a $2.5 million claim from Mike Cain), according to court documents. Chapter 11 offers protection, so parties who file don’t pay the full amount of what’s owed. Instead, they pay a portion or a fair pro-rata share. The next court hearing is scheduled for Wednesday, November 20." - Ashok Selvam
