12,000 restaurants too many

A Stifel Nicolaus analyst says that the restaurant industry is overcrowded and that 12,000 locations may have to close to 'match consumer demand' ..

Steve West, the analyst 12,000 restaurants may not want to meet, said the bar and grill segment of the industry has reported declining traffic for some time and about 7,500 bar and grills may have to shut down..West notes that business expense accounts aren't giving much business to restaurants lately..

Stifel Nicolaus is the largest subsidiary of Stifel Financial Corp. and is a member of SIPC and listed on the New York Stock Exchange.

Stifel Financial Corp offers securities-related financial services in the United States and Europe