Sweeter than chocolates?

You foodservice romantics may want to give the loved one a special gift this Valentine’s Day: Unlimited burgers, fish fillets, steak and sodas. Yes, buy them a restaurant chain.

Certainly plenty are now on the market, particularly in fast food. This morning, in case you’re just arising, brought confirmation of what has been rumored for a long time: The parent company of Wendy’s is exploring financial alternatives for its secondary brand, Arby’s. That’s financial lingo for finding a buyer or otherwise peddling the portfolio chip. (I’ve often wondered if financial geeks have Exploring Financial Alternatives Events instead of yard sales.)

So, to recap what’s available to you Valentine’s Day shoppers, officially on the block right now are A&W All-American Food, Long John Silver’s, Arby’s, and Charlie Brown’s, the bankrupt steakhouse that has to be sold in the next week or so under a deal with lenders. Red Robin is a judgment call, since investors are demanding that it be sold and say suitors have come forward. But there's been no For Sale sign posted outside headquarters.

Interestingly, the first three on the industry Craig’s List are being peddled because their parents want to focus on stronger brands with more growth potential (A&W and Long John’s are of course owned by Yum! Brands, better known as the franchisors of Taco Bell, KFC and Pizza Hut). So there’s a bit of restaurant triage under way.

If it continues, we may see the restaurant For Sale listing grow to the length of the Singles and Seeking column.

Another rough patch for restaurants?

The job to have these days is supplying restaurants with “For sale or rent” signs. The last two months alone would’ve made your year.

The bankruptcy of CB Holdings, parent of the Charlie Brown’s, Office and Bugaboo Creek steakhouse chains, snagged the headlines. But it was hardly the only operator to shutter restaurants (about 32 of its 80 outlets).

A Sonic franchisee in Florida benched the carhops at its 11 stores. Ted’s Montana Grill put nine of its 55 restaurants out to pasture. Jack in the Box shut 40 restaurants.

Recent times have been particularly lethal for landmark one-offs, like 91-year-old Lahiere’s in Princeton, N.J.; 53-year-old Terri’s in Portsmouth, Va.; nearly-40-years-old Stratton’s Dairy Dip in Ashland, City, Tenn.; and Elisha’s in Milford, N.H., a youngster with just three-and-a-half decades of operation.

Add in the bankruptcy of The Glazier Group, operator of the Michael Jordon’s and Strip House steakhouses, and it’s difficult to deny that the shakeout has intensified again.

The question is, how long will that rev-up continue? Is this just a year-end blip, a result of places assessing where they stand for the year and realizing they’re too far in the red?

Or is this an indication the recession could be a double-dipper for many restaurants? Did too many places bet they could ride out the downturn without adjustments, only to learn this is more of a new reality than a temporary departure from the business they knew?

Come January and February, we’ll know for sure.