Restaurants continue to struggle to stay open in Colorado Springs

COLORADO SPRINGS, Colo. (KRDO)- Restaurants are closing in Southern Colorado at a quick rate. According to the Colorado Restaurant Association, labor shortages, and inflation are the biggest reasons.

Just this week, The Well in Downtown Colorado Springs announced it IS shutting down this Saturday. We spoke with two people who own restaurants in the area. They say the industry has changed and they never really picked back up after the COVID-19 pandemic.

In 2012, Joel Hernandez Carrillo, along with his family, opened Azada Mexican Grill downtown. Due to their success, they decided to open another location at the Citadel Mall, but after five years they're now closing due to skyrocketing costs to open a business.

The Colorado Restaurant Association told KRDO13 that the state's restaurant inflation rate is at 24 percent, compared to the national inflation rate of nine percent.