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.
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.
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.
IHOP
Year Established: 1958
Estimated Branch Closures: 40 Branches
IHOP is an international breakfast chain that specializes in pancakes. Its name stands for "International House of Pancakes" and it currently has restaurants all across the U.S., Canada, Mexico, and the Middle East. With almost 2,000 branches and tens of thousands of employees, the company generates annual revenues that exceed one billion dollars.
The chain is currently owned by Dine Brands Global. Almost 100% of its locations are franchisees, and most of these branches are open 24/7. Despite what seems like a steady growing direction from this major restaurant chain, IHOP has recently announced that they’re officially closing several branches that aren’t quite pulling their weight.
Bonefish Grill
Year Established: 2000
Estimated Branch Closures: 14 Branches
Yet another Bloomin’ Brands chain, Bonefish Grill isn’t exempt from the wave of closures that plague its parent company. While this restaurant is focused on seafood fare in a casual environment, many underperforming branches have already been shut down.
With only 215 locations across the US, 14 branch closures might be devastating for this chain. Despite their sustainable practices, Bonefish simply hasn’t pulled in the revenue Bloomin’ expects. These branch closures are part of the company’s larger initiatives to focus their income on branches that turn a substantial profit.