Year Established: 1979
Estimated Branch Closures: 24 Branches
Fuddruckers is an American casual hamburger chain which claims it makes the “world’s greatest burgers”. The company has been around for over three decades since the ’80s, and currently has about fifty branches and 107 franchised locations throughout the United States.
The company is a subsidiary of Luby’s, and was purchased by them after filing for bankruptcy during the 2008 financial crisis. It received roughly $63.45 million for the transaction, which allowed the chain to continue operating. The build-your-own-burger chain was founded by Phil Romano, who only stuck around for a few years before setting up his own Macaroni Grill.
McCormick & Schmick’s
Year Established: 1979
Estimated Branch Closures: 12 Branches
McCormick & Schmick's was founded in the '70s by Bill McCormick and Doug Schmick, as a premier seafood restaurant with over 80 locations. It features various fresh seafood, and also serves steaks, poultry, entrée salads and pastas. In mid 2019, the company held around 40 branches throughout the United States.
Its revenues were in excess of $350 million as of 2010, but had later lost more than $20 million in that very same year instead of making a profit. McCormick & Schmick's is facing troubles even today, and might very well close down completely in the next few years. It currently still holds a few thousand employees, so hopefully things look up again, at least for the sake of the work force.
Outback Steakhouse
Year Established: 1988
Estimated Branch Closures: 43 Branches
Outback Steakhouse has been steadily closing locations for years, joining a long list of underperforming chains under its parent company, Bloomin’ Brands. While the Australian-inspired restaurant is popular in its home state of Florida, it hasn’t been quite as successful in other locations across the US.
While Outback closed 43 branches this year, their global presence means they won’t disappear completely anytime soon. Still, a steady decline in revenue for Bloomin’ Brands means more closures are likely on the horizon. Get those Bloomin’ Onions while you can!
Krystal
Year Established: 1932
Estimated Branch Closures: 100 Branches
A burger chain based in Georgia, Krystal prides itself on sticking to the classics. Established all the way back in 1932, the fast food joint has maintained a menu of lovable little square burgers, while simultaneously adding breakfast foods, hot dogs, and milkshakes in an effort to appeal to a wider audience.
Unfortunately, their menu changes haven’t been enough to keep the restaurant afloat. After selling 100 company-owned restaurants, Krystal filed for bankruptcy in early 2020. With over 300 restaurants in 10 states, more closures can be expected as Krystal struggles to get back on its feet.
Olive Garden
Year Established: 1982
Estimated Branch Closures: 17 Branches
The ultimate destination for soft, chewy bread sticks, Olive Garden is a casual Italian joint serving a large variety of pasta, salads, soups, and more. While the restaurant is undoubtedly affordable, its profits have taken a hit in recent years. A restructuring plan aimed to revamp the restaurant’s design and add healthier options to the menu, but it wasn’t enough to stop the closure of 17 branches last year.
In addition to closing branches, Olive Garden is also turning to online ordering to help cut their costs. While they’re fighting to stay in business, their popularity continues to decline.