Frisch's Restaurants Inc. will close its downtown Fourth Street Big Boy today, a money-saving move that will force some riverfront workers to walk farther for their Lenten fish sandwiches.

        Chief executive Craig Maier said Frisch's had been losing about six figures a year on the site, but not because the restaurant performed poorly. The problem is Frisch's leases the entire building and has not been able to find tenants for the upstairs space.

Maier

        “It's been the biggest money-losing restaurant in the chain for years,” Mr. Maier said. “It's a shame because, as you know, I'm a big fan of downtown. I'm a supporter of downtown.”

        Frisch's operates a second downtown location, on Sixth Street between Walnut and Main. It also is closing an unprofitable store in Centerville, Ohio.

        The restaurant had been expected to close for some time because Madison Marquette Realty, which is redeveloping the former McAlpin's nearby, has an option on the Frisch's building. But Mr. Maier said an unidentified financial gain in this quarter will offset the cost of the closings, so Frisch's took advantage of the timing.

        Rob Acker, development director at Madison, said Friday that the developer remains “very much” interested in the building.

        Frisch's took over the entire building in the mid-1980s and intended to lease out the upstairs space. It couldn't find tenants, though, because the space is considered Class C, a lower rank of space that typically lacks some modern amenities, such as air-conditioning.

        “It was a bad investment on Frisch's part,” Mr. Maier said. “We were gracefully eating the losses.”

        The roughly 40 workers at the restaurant will be relocated to other locations.

Fewer jobs created
What you read may land you in the red
Local experts' picks for 2000 were a little bit off target, too
The dart portfolio
Firms address increased expenses
Money mistakes
Comic book talks investing to children
Frisch's closing on Fourth Street
HIGGINS: Personal finance
High-definition TV part comes from Clermont Co.
Pact saves Denver newspaper
Savvy strategies
Synchrony lets go 14% of work force
The Sophisticated Investor
Business Digest
Tristate Business Summary
What's the Buzz?