Year Established: 1969
Estimated Branch Closures: 20 Branches
While fast seafood doesn’t necessarily sound like an appetizing combination, Long John Silver’s continues to push forward with its somewhat flawed business model. Although the restaurant has declared bankruptcy numerous times, they’ve always managed to bounce back and continue to provide platters of deep-fried, affordable fish.
Recently, a new CEO has decided to restructure the Long John Silver’s brand. Although the company purchased 76 franchised stores, they also made the decision to close weaker branches and move on. With a healthier menu and a new business plan in place, Long John Silver’s might just survive for another few years.
Carl’s Jr.
Year Established: 1941
Estimated Branch Closures: 150 Branches
Carl's Jr. is an American fast food chain that was previously known as Carl's Drive-In Barbecue. The company was founded in 1941 by Carl Karcher and his wife Margaret, and began as a hot dog stand. Over time, it grew to almost 1,500 locations, and currently serves people worldwide. Although the chain isn’t nearly as successful as Burger King, it has a dedicated fanbase that swears by their food and service.
The brand's signature Six Dollar Burger is one of their most popular items, and helps satisfy their millions of happy customers. Despite their original product, Carl's Jr. has recently had to close quite a few branches due to their vast underperformance. Nonetheless, they have been a strong brand for decades, and hope to stay that way for many more years to come.
Buffalo Wild Wings Bar & Grill
Year Established: 1982
Estimated Branch Closures: 60 Branches
Unlike many chain restaurants, Buffalo Wild Wings boasts at least one branch in all 50 states, and often much more than one. Overall, the franchise includes 1,238 branches across the U.S., resulting in around $2 billion in revenue per year.
Despite its nationwide presence, BWW has been plagued by increases in operation costs, a surge in tough competition, and a lack of innovative growth. These and more problems led to the closure of 60 branches that weren’t bringing in enough profits to stay in business.
Applebee's
Year Established: 1980
Estimated Branch Closures: 120 Branches
Applebee's Neighborhood Grill + Bar has been around since the late 1980's, and continues to maintain its dominance in various American and foreign locations. With almost 2,000 branches, the company has about 28,000 employees and revenues in the billions. Most of its branches are franchised, and a minority are privately owned.
The chain recently faced a few issues in its management, and had to let go of its president, Steven Layt. Applebee's also recently closed down its operations in Costa Rica and laid off almost 100 workers, mostly due to a lack of demand and revenue on their part. They may have been a flop in Costa Rica, but with almost a billion dollars in assets and a steady cash flow, it looks like this chain isn’t going anywhere anytime soon.
TGI Friday's
Year Established: 1965
Estimated Branch Closures: 10 Branches
TGI Friday’s prides itself as being one of the world's most beloved restaurant brands. It's an American bar and grill restaurant chain mostly focused around casual dining. Its name derives from the classic phrase "Thank God It's Friday", and the company definitely works to promote that kind of atmosphere.
The casual dining chain has almost 1,000 locations worldwide, and was originally founded in New York City back in 1965. All of TGI Friday’s employees wear a recognizable red-and-white uniform shit, and most of them are pretty happy about it. Recently, however, and in no relation to their workers' dress-code, the chain has announced the closing of a few of its locations.