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Citing Empty Tables, Resy Scalpers TableXchange Folds

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We know plenty of restaurateurs who will rejoice at this news, but let's try to keep in mind the jobs lost, the dreams dashed. The founders of resy scalping operation TableXchange have announced they are discontinuing service on April 1. Given the ease with which you can get into popular restaurants these days, we can't say we're exactly surprised.

"...current market conditions have interfered with our original intention to fill restaurants' tables and introduce new clientele. Even with world-class chefs and glowing reviews, many restaurants are struggling to stay open and continue serving their loyal customers. With tables remaining empty at restaurants that once had 30+ day waiting lists, the niche filled by ancillary services like TableXchange is no longer necessary."
We're wondering how long before their competitors PrimeTime Tables and Celebrity Tables will pack up shop as well. The full letter to members, ahead.>>
TableXchange members:

It is with great regret that we inform you of our decision to shut down TableXchange.com and discontinue providing our reservation marketplace services. Given circumstances both personal and professional, we have ultimately decided that it is the right thing to do for the dining industry, our employees, and our users.

TableXchange was created to be an equitable marketplace, providing average diners access to the most coveted reservations in New York City without the typical hassles of calling months in advance. As highlighted in our Mission Statement we had hoped to "reduce vacant tables and 'no-shows' every weekend evening" by providing patrons "an incentive to sell their reservation to users who are anxious to eat at these restaurants but did not plan weeks ahead." However, current market conditions have interfered with our original intention to fill restaurants' tables and introduce new clientele.

Even with world-class chefs and glowing reviews, many restaurants are struggling to stay open and continue serving their loyal customers. With tables remaining empty at restaurants that once had 30+ day waiting lists, the niche filled by ancillary services like TableXchange is no longer necessary. In this difficult financial environment, we cannot justify the disruption to restaurateurs' businesses and the livelihoods of their employees.

The site will discontinue operations on April 1, 2009. In the meantime, we would love to hear from our users and encourage you to email support@tablexchange.com. Feel free to contact us with questions about the site closing, your accounts, and any other concerns you may have.

Many thanks for your support and patronage from all the staff at TableXchange. We hope you continue to enjoy dining out as much as we have enjoyed helping you find that coveted table.

· TableXchange [Official Site]
· All Resy Scalpers Coverage [~E~]

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