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.
Long John Silver’s
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.
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.
Red Robin
Year Established: 1969
Estimated Branch Closures: 10 Branches
Red Robin opened their first restaurant in Washington back in 1969. The company proudly expresses their "B.U.R.G.E.R" values, which stands for Bottomless fun, Unwavering integrity, Relentless focus on improvement, Genuine spirit of service, Extraordinary people and Recognized burger authority. It currently has 562 locations, and is looking to keep expanding throughout the United States.
Unfortunately, the burger chain recently decided to close down ten restaurants that just weren't keeping up with the company's demands. These other locations have already lost almost 90% of their revenue in the last few years. But nevertheless, Red Robin is still going strong, and is looking forward to an excellent 2020.
Burger King
Year Established: 1953
Estimated Branch Closures: 250 Branches
Burger King is one of the world's largest fast food hamburger chains, and has almost 18,000 global branches bearing its name. Its annual revenues are in the billions, and the popular chain reported having over 34,000 employees back in 2011. One of the company's mottos is "Great Food Comes First", which they proudly present throughout their locations.
With over 11 million daily visitors, there's almost nobody in the world who hasn't been to one of Burger King's branches. Unfortunately, Burger King recently announced its plans to close around 225 branches that have been underperforming worldwide. This is a large increase in closing rates relative to previous years. Hopefully, the chain will manage to bounce back and reopen some of its doors.