As Market Square bids farewell to yet another familiar eatery, Petro's Chili & Chips braces for its final day of service. According to WVLT, the iconic Knoxville establishment will shut down due to an unsustainable 170% rent hike. Doors are set to close on November 14 at 3 p.m., another casualty in a string of closures that have afflicted the chain in recent months, including sites in Powell, Clinton, Seymour, and Oak Ridge.
Even with the historical resonance of its inception at the 1982 World's Fair, local admiration, and a menu that boasts the renowned "The Petro" among other offerings, the financial realities are pushing the brand out of the downtown area. Rising rent appears to be a continued obstacle for Petro's, who, despite a stated keen interest in maintaining downtown presence, acknowledge the economic pressure. As Knox News confirms, the closure of the Market Square Petro's marks the end of its 2019-launched venture beside Cafe 4.
Amidst the closures, Petro's continues operations in six Knoxville-area locations, as well as three in the Tri-Cities. The Powell branch is temporarily shuttered but is expected to reopen, which should cushion the blow felt by patrons of the downtown location. This was shared in a sentimental reflection on Petro's presence in Knoxville's community and its more significant brand story, as included in an Inside of Knoxville article.
While Petro's witnessed closure due to rising rent overheads, its COO, Alex Widmer, remains hopeful about the chain's future. The Powell branch, in particular, is to resume service, pegged around December 8, coinciding with his father Dale Widmer's 70th birthday. "This is a step toward long-term growth for Petro's," Widmer explained to Inside of Knoxville. He outlined an optimistic outlook for the eatery's legacy, which includes grocery store partnerships and stadium presence, hinting at a brand set for revitalization.
For those seeking their chili and chip fix, the remaining Petro's stores in Cedar Bluff, Farragut, Lenoir City, Maryville, West Hills, and West Town Mall remain open. The brand's commitment to Knoxville and the university sports venues endures as well. Following the Market Square closure, a fashion retail is set to occupy the soon-to-be-vacant space, signifying a shift in the local storefront landscape, yet the community's affection for its homegrown culinary icon continues, one bowl of chili at a time.
