Year Established: 1998
Estimated Branch Closures: 42 Branches
While fast food restaurants are the leading types of food stores in the United States, there are some successful ethnic food brands as well. Kona Grill is an American cuisine, sushi, and cocktails restaurant, which currently owns and operates around 40 branches.
The sushi restaurant was originally opened in late 1998, and began expanding after a successful initial public opening which made almost $30 million. Despite its initial popularity, the company has since began losing over tens of millions of dollars on an annual basis, until they eventually filed for bankruptcy in early 2019.
The Cheesecake Factory
Year Established: 1972
Estimated Branch Closures: 10 Branches
While today’s Cheesecake Factory boasts large portion sizes and over-the-top decor, the chain restaurant started as a simple bakery in Los Angeles that grew to encompass around 211 branches all over the U.S. Even though this restaurant hasn’t dipped into the realm of bankruptcy, its revenue numbers aren’t exactly encouraging.
Featuring a novel-like menu filled with fatty foods, The Cheesecake Factory hasn’t adjusted to a changing landscape that demands healthier options. Although the restaurant has returned to its bakery roots by selling baked goods in supermarkets, it’s also closed down a few branches that just weren’t performing well.
Roy Rogers
Year Established: 1968
Estimated Branch Closures: 48 Branches
Back in 1968, a chain of burger joints called RoBee’s House of Beef was bought by the Marriott Corporation hotel chain. It changed the name of the restaurant to Roy Rogers, after the popular Western actor by that name. The company launched an aggressive expansion campaign and managed to reach a whopping 600 locations.
However, over time, sales began dwindling, and the chain was left with what currently stands at around 48 branches. Since then, the burger chain has stayed relatively modest in its ambitions. It currently has a steady stream of revenue and will likely last for at least a few years longer.
Jack In the Box
Year Established: 1951
Estimated Branch Closures: 14 Branches
Competing against ever-popular chains like McDonald’s and Burger King, Jack in the Box has never achieved the notoriety of its fast food peers. Many of the branches are losing money, with about 300 of the total 2,200 locations bringing in less than $1 million per year in annual sales.
The operating costs for this fast food joint just can’t keep up with the declining revenue, leading to 14 branch closures with more expected to follow in the coming months. Unfortunately, Jack might be on his deathbed, especially if sales don’t turn around sometime soon.
Steak 'n Shake
Year Established: 1934
Estimated Branch Closures: 60 Branches
With over 21,000 employees, Steak ‘n Shake is one of America’s largest and most successful casual burger chains. It operates all across the United States, but also has branches in Europe and the Middle East. The company was originally founded in 1934 by Gus Belt, and its headquarters are currently located in Indianapolis, Indiana.
Steak ‘n Shake has over 600 restaurants, but will be temporarily closing 60 branches this year due to underperformance. Unfortunately, the company has already made some cutbacks, including permanently closing down one of its branches at Quebec and County Line Road. If you're a fan of the fast-food chain, you may want to get a bite today, before things go from bad to worse.