Year Established: 1981
Estimated Branch Closures: 1000 Branches
Quiznos is a franchised fast food chain that focuses on toasted sub sandwiches. The company was once one of the largest food providers in the United States, with almost 5,000 locations to its name. However, it has since lost much of its success, and ended up closing over 90% of its locations in the span of a decade.
Today, the chain has only a few hundred locations left, and continues to close more and more every year. Quiznos first filed for bankruptcy in early 2014, and emerged from the procedure with about $400 million in debt. The company took a second try at success and is currently attempting to expand internationally into various countries, in hopes of opening a few hundred branches by the end of 2020.
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.
Tim Hortons
Year Established: 1964
Estimated Branch Closures: 36 Branches
Tim Hortons is Canada's largest quick service restaurant chain. The coffee and doughnut chain has almost 5,000 restaurants as of 2019, and has its headquarters in Toronto, Ontario. It was eventually purchased by Burger King for $11.4 billion, which tried to renovate its locations and improve its revenues.
The company has been involved in various controversies over the years, including recently cutting employees benefits and using far too many plastic cups for any environmentalists' taste, and that's just to name a few. Tim Hortons recently had to close down four underperforming locations in Dayton, Ohio, and is estimated to close an additional 36 throughout the year.
Houlihan’s
Year Established: 1972
Estimated Branch Closures: 12 Branches
A high-end restaurant focused on classic American fare, Houlihan’s believes in serving high-quality food and drinks in a casual environment. With a range of food offerings and a full bar, this restaurant chain was poised to be successful.
In November 2019, however, Houlihan’s filed for bankruptcy. The announcement was followed by the closure of 12 branches, leaving the company with only 44 remaining branches spread across 17 states. In December 2019, Houlihan’s Restaurant Inc. was purchased by Landry’s Inc. The future of the operation under new leadership is unclear.