10 major restaurant chains that have closed locations in 2024

Prime eating staples, such as Applebee’s, Red Lobster, and most just recently Hooters, have each pointed to underperformance as one crucial factor in their choice to shut places. The Atlanta-based chain did not confirm the number of areas it would certainly close. America’s precious diner Denny’s has actually shut loads of its locations given that last year. In April, Biscuit Barrel closed four of its places, two in The golden state, one in Oregon, and one more in South Carolina, due to underperformance.

America’s precious restaurant Denny’s has actually closed loads of its locations since in 2015. In 2023, it closed 57 dining establishments. This year, it plans to close 10 to 20 locations, but it does have intend to open 50 brand-new restaurants, according to chief economic policeman Robert Verostek.

Gunther Plosch, chief monetary officer at Wendy’s, informed financiers during the firm’s earnings call early Might that the quick informal chain strategies to close “a bit extra” than 100 restaurants in 2024. The chain, nonetheless, plans to open as numerous as 300 areas throughout the year.

Wilderness Steakhouse claimed during its fourth quarter revenues call that it prepared to close 41 underperforming areas. Also so, the Bloomin’ Brands-owned business has strategies to open 40 to 45 news restaurants to make up the difference.

Boston Market is down to the cable. It started 2023 with roughly 300 locations and is to just 27, according to Dining establishment Business. The Colorado-based chain is dealing with a multitude of monetary issues, consisting of accounts payable, lawsuits, and expulsions.

Prime dining staples, such as Applebee’s, Red Lobster, and most recently Hooters, have each pointed to underperformance as one key variable in their decision to shut places. We have actually compiled a list of some other major chains that have actually decided to shutter areas this year.

On June 24, a Hooters representative validated to Quartz that it was under stress from current market conditions and would close a considerable variety of places. The Atlanta-based chain did not verify the number of places it would certainly close. Records have actually pointed to at least 41 places shutting.

In April, Cracker Barrel closed four of its places, 2 in California, one in Oregon, and one more in South Carolina, as a result of underperformance. The chain has increased menu prices by 6.8%, according to its most current quarterly record. On the other hand, it intends to remodel in between 25 and 30 of its stores in 2025. The Tennessee-based firm has more than 660 locations throughout 45 states.