Proper noun. The generic name used for any sort of establishment such as a gas station, retail or grocery store, restaraunt, or any place of lodging when one cannot remember the actual name of said establishment. Commonly used when giving directions, or suggesting a destination.
The name is originally from King of the Hill. "Pink & White's" is the name of the fictitious privately-owned grocery store that put more importance on the customer's experience and memorable service than on competitive pricing and merchandise. This eventually led to the failure and closure of Pink & White's.
Ok. Let's go down the street, you know, to the Pink & White's on the corner. It's really close, and there's always something on the menu everyone will like.