Recently, an increasing number of retail stores have announced their closing across the country. Since the beginning of 2020, and all that went on that fateful year, it isn’t going to surprise much of us if more and more stores announce their closing too. Retail stores are one thing, but sadly, by the end of this year, we can expect many of our favorite restaurants to be closing too as they are struggling to stay afloat. Some were already struggling in recent years, and then this delivered the final blow, while others have already tried to restructure themselves in order to operate under new regulations, and others who were just about managing during non-crises times – haven’t managed to survive the last few months. If you are a fan of these establishments, try and get there before they close for good…
Some of Your Favorite Restaurants That Had to Downsize or Shut In 2020
Jack in the Box
Jack in the Box has over 2,200 branches and is known to many as a popular fast-food joint that serves sumptuous bar foods. A lot of these serve the East Coast and Midwest regions. Some time ago, Jack in the Box made it public that they would be expanding their reach with more branches, but soon after had to close a lot of their Western region establishments. Sadly, in the 1990s, the restaurant suffered a major setback as they were brushed with the onslaught of the fatal e. Coli outbreak. This brought the company into a major downfall since then.
Jack In The Box
Luby’s
Luby’s Inc. is a franchise that has many brands under its name like Cheeseburger in Paradise, Fuddruckers, Koo Koo Roo, and Luby’s. Established over 72 years ago in Texas and formerly known as Luby’s Cafeterias, Inc., Luby’s has more than 83 branches in Houston and one in Mississippi. The headquarters for Luby’s is located in Houston, but San Antonio housed its first establishment. There are reports that many of their unsuccessful branches will be closed down soon. A few years back, they closed some of their stores managing to score $6.6 million in profits, which they then incorporated into their operation to increase their overall profits.
Luby’s
Pizza Hut
Pizza Hut first started in 1958 in Wichita, Kansas, and for over 60 years, it has developed into greatness with more than 18,000 branches globally, and along with Mcdonald’s is probably the most well-known fast food place out there. The company is operated under Yum! Brands who in recent times have made a lot of changes when it comes to the fast-food outlet. America has over 7,500 branches of their total number, but the decision is that they will close more than 7,000 of its total branches worldwide to help stabilize their overall profits. But, if the company wants to stay “alive” beyond this year, they have to act quickly and put some restructuring plans in place.
Pizza Hut
Chipotle
The Mexican fast-food chain Chipotle Mexican Grill has been experiencing a lot of troubles lately as they indicated they would be closing out as more stores in addition to the 65 stores already closed between 2018 to 2019. Last year was expected to see a lot of the stores closing even though many people will not find it to be much of bad news. In 2019, Chipotle embarked on a mission to incorporate more online ordering instead of the dine-in experience. Also, to this new change, they have added a delicious meal… their queso cheese.
Chipotle
O’Charley’s
O’Charley’s has 200 locations, but there are no franchises among them and are located across the Midwest and South regions in up to 17 states. They go as far in the north to Ohio and Louisiana towards the south. In 2019, the restaurant announced they would be closing some of their stores, and in June of the same year, they closed a total of 8 stores within 24 hours. Florida is now without an O’Charley’s as the last operating branch in that state was closed later in 2019. For the remaining branches, Fidelity National announced they would be acquiring them, but it is hard to say if they will revive the company or not.
OCharleys
Steak ‘N Shake
Steak ‘N Shake is a hip burger franchise with locations in the USA, Southwest Europe, and the Middle East. The business was started in 1934 by Gus Belt in Normal, Illinois, and is now owned by Biglari Holdings. Indianapolis, Indiana, holds the headquarters for Steak ‘N Shake and has an average of 628 restaurants, with over 200 of them being franchised. The restaurant has a total of 21,000 employees. But, sad to say, a lot of the outlets will be temporarily closed soon until they can find new franchise owners for them.
Steak N Shake
Cheesecake Factory
Cheesecake Factory, Inc. was initially established in 1972 in Los Angeles as a bakery and later developed into a major restaurant chain with over 200 branches. The restaurant, however, is said to be rather expensive, but people still flock as they offer a long menu and beautiful decor to attract its customers. California is the home of the company’s headquarters even though they have their production factories in North Carolina. In recent times, the company has had a lot of hardships knocking at its doors, and as such, they have been forced to close a lot of their restaurants. By the end of 2020, many more were expected to close. However, they have had their profits increased thanks to the desserts and baked goods they serve in supermarkets and Barnes & Noble Bookstores.
Cheesecake Factory
Red Robin
Founded in Seattle, Washington, in 1969, Red Robin has become a household name for a lot of people, especially as it relates to serving some sumptuous burgers. A decade after the first branch opened, they opened their first franchise in Washington, and now have over 560 restaurants, with 90 being franchises, with branches in Canada too and their headquarters in Colorado. As 2020 approached and the COVID-19 pandemic hit the world, Red Robin announced that they will be closing about 35 stores. In addition to the closures, they also noted they would be relieving a lot of their top-tier employees in a bid to save on some of their losses during the pandemic. However, they are still adamant in refusing the recommendations made by investors about closing down the entire company.
Red Robin
Olive Garden
Olive Garden is an Italian-themed restaurant that started in 1982 and is one of the most sought-after companies under the Darden Restaurant Company due to its “value for money” setting. You can get a good serving at Olive Garden for $20 while Capital Grille, its sister restaurant, goes around $100. Due to new developments and transformations, the logo for Olive Gardens has been altered in recent times and has also incorporated online ordering into their operation. However, amidst the greatness the restaurant is experiencing, it will be closing out a lot of its stores (more so the underperforming stores) to increase its overall profits. This will also affect the staffing as the company is trying to limit the amounts paid out in insurance and benefits.
Olive Garden
Cracker Barrel
With 664 locations across the country, Cracker Barrel announced it will cut several stores and close down a few of its locations but not the flagship locations. Owners announced they will close down all food-and-entertainment locations; Punch Bowl Social (19 of them) of which none are located in the State of New York. Since the pandemic started, customers are not allowed to sit inside brick and mortar locations and must order delivery or take out, which harmed businesses and brought this chain to act drastically in order to stay on their feet.
Cracker Barrel
HomeTown Buffet
When HomeTown Buffet was in “full swing,” they had over 250 restaurants, with its mother company being Ovation Brands. However, in recent times, the restaurant was purchased by Food Management Partners, Inc. Ovations Brands also runs Ryan’s Grill, Old Country Buffet, Tahoe Joe’s, and Furr’s and has been in operation for over 28 years. Being run under the new company, we can say the restaurant has dealt with a lot as they moved from running 250 branches to now only having 33 open.
HomeTown Buffet
McCormick & Schmick’s
McCormick & Schmick’s is an American seafood restaurant that has, for the past few years, closed down more than half its branches, with plans to shut down more by the end of 2020. Bill McCormick and Douglas Schmick started the restaurant in 1979 and have their primary location in Portland, Oregon. The restaurant is a supplement branch of Landry’s, Inc., and is the main cause of its initial closure. An average of about 45 stores are still open, with 40 in America and 5 in Canada, but it is evident that its profits, assets, and proceeds have dropped drastically. The foundation of the company was moved by Landry’s to Texas and had since been heading up the move that is initiating the closures.
McCormick & Schmicks
Fuddruckers
Fuddruckers is known to many for their delicious burgers and buns that they bake as well as their on-site meat grinding. They have more than 77 company-operated stores in the USA and over 100 franchises. To date, their profit stands at $150 million, but they are on a trail to closing down some branches that are not making enough profits. The headquarters for Fuddruckers is located in Houston, Texas, with its founder Phil Romano leaving the company to form another; Macaroni Grill. Sadly, the company has gone through a lot of owners since then and has even filed for bankruptcy numerous times.
Fuddruckers
Roy Rogers
Roy Rogers is a popular Western actor and was the inspiration behind the name of the burger restaurant, Roy Rogers. Located in the Mid-Atlantic and Northeast region of the United States and formerly known as RoBee’s House of Beef. The restaurant chain was purchased in 1968 by Marriott Corporation and was the same year that they renamed the restaurant with its current name. Their sales tactics and campaigns were successful as they managed to attract a lot of customers within a short period. At the peak of the business, there was an average of 600 branches in America. During the 1990s, Hardee’s took over, and the company was reduced to 48 stores only.
Roy Rogers
Boston Market
If you are looking for tasty rotisserie chicken, then Boston Market should be your ultimate choice. The informal restaurant is based in Florida and is owned by Sun Capital and first went by the name of Boston Chicken. A lot of the branches are located in the Midwest and Northeast US, even though you can easily find a store anywhere in Florida as Sun Capital owns it. As of 2013, there were a total of 462 stores in operation, but as the years went by, the number of stores and employees gradually decreased. The Boston Market management released a statement noting they were undergoing a “multifaceted transformation plan,” which is the reason why a lot of the stores were closed so rapidly.
Boston Market
Perkins
Perkins is a privately-owned breakfast and bakery chain, established in 1958 in Cincinnati, Ohio. It was first known as Perkins Pancake House and later as Perkins Family Restaurant in 1982. Perkins features across 32 states in the US and four Canadian provinces. On August 5th, 2019, Marie Callender filed for bankruptcy, but a lot of criticism came with it. Many of the stores were closed instantly without customers or even employees knowing anything about it. Sadly, more than 2,500 people lost their jobs from these closures.
Perkins
McDonald’s
McDonald’s is by far one of the most popular restaurants not only in the US but all around the world, yet they have made it to this list too. Being one of the most-visited restaurants in America, it is safe to say they have made and served billions of burgers and millions of dollars in profits. However, yet still, they were not immune to the hardship faced by many other companies. COVID-19 has hit a lot of restaurants around the world, and McDonald’s was not spared. A lot of the overseas branches have closed their doors like in the UK, Israel, Italy, and Spain as well as in the US. Interestingly, the chain made a comeback with its new business model, where some of the outlets offer deliveries only, while others will remain closed. But, the discontinuation of the dine-in service has made it difficult for the company to recover lots of its lost profits.
McDonald’s
Del Taco
Del Taco first came into existence in the 1960s with a Mexican-themed setting but which does not only serve Mexican dishes. They serve various burgers and fries, too, and served from over 564 stores, which are mostly in the Western regions and Southwest of the United States. In 2020, management announced they would be closing out a few stores – more so the ones that are less popular and mostly on the franchise side. Levy Acquisition purchased Del Taco in 2015 and became a public company at the time. The restaurant was being operated in 15 states, and with plans to expand, they didn’t see much success on the Eastern side as they pushed to expand in Detroit. But, all in all, we can say their profits are still in a battle with Taco Bell.
Del Taco
Burger King
So many Americans, but also people worldwide, love Burger King. In the U.S., the hottest competitors of Burger King are Wendy’s and McDonald’s. In recent times, the fast-food outlet announced they would be closing an average of 200 to 250 stores that were underperforming. This was a major increase from the previous years, where only 100 to 150 stores had been closed for about the same reason. In 1966, the company was founded in Jacksonville, Florida, and was initially known as “Insta-Burger King”, now it has its headquarters in Miami, Florida. Despite such a high number of closures, there are still approximately 17,800 restaurants across the United States.
Burger King
IHOP
International House of Pancakes is the full name behind the acronym IHOP and is a breakfast-themed restaurant chain owned by Dine Brands Global. The same owner is the parent company for Applebee’s as well and with more than 95% of the subsidiaries under the Dine Brand Global’s leadership, is operated independently. IHOP was established in Los Angeles in 1958 and still has its headquarters in California. The Waffle House arch-nemesis in recent times, IHOP announced their plans to adjust its list of stores leading to the shut down of a few hundred of their branches. They have maintained the potential for reopening in the future, but until then, we have to deal with reality. There are over 32,000 employees with IHOP and recorded an average of over $350 million about a decade ago.
IHOP
Taco Bell
The Yum! Brands also owns Taco Bell, a casually cool restaurant that serves a Mexican-style cuisine and also has a very great price structure. In 1962, Taco Bell was established in Downey by Glen Bell, nowadays, Taco Bell sees more than two billion customers every year. Glen Bell started out by operating a hot dog stand, and after seeing a closeby Mexican restaurant taking most of his customers, he got the inspiration to start serving Mexican foods. From the start, he thought of the name “Taco Tia” and got his recipe from the restaurant that was nearby. Before long, Taco Bell expanded and became a hit restaurant in the US. However, they recently announced they would be downsizing, and that is sure some sad news.
Taco Bell
TGI Friday’s
TGI Friday’s, or Thank Goodness It’s Friday, managed to accumulate more than 870 branches worldwide with locations in almost every part of the world except in sub-Saharan Africa. The restaurant was founded by Alan Stillman and Daniel Scoggin, with the first branch being opened in New York City. The restaurant is all over the country, and its headquarters was moved to Dallas, Texas. The red-and-white soccer-team shirts were the employee uniforms in previous years, even though some branches still have their employees wear uniforms.
TGI Friday’s
Carl’s Jr.
Carl’s Jr. is owned by CKE Restaurant Holdings and is run in both the US and Canada. The restaurant was founded in 1941 by Carl Karcher and his wife, a few years after he started selling hot dogs from a pushcart. The restaurant is doing quite well, but still, some of them will have their doors closed soon, which is not something new for them. Over the last few years, they have been closing some of their branches, often quite abruptly. In total, they have over 1,040 stores in 44 states.
Carls Jr
Marie Callender’s
Marie Callender’s is named after its owner Marie Callender and is a supplier of pastries. Callender started the business as a way of supplementing her income while living in a trailer park when they took the bold move to open a restaurant. Luckily, it soon became a major hit. Unfortunately, the restaurant saw a downturn as of 2009 when Don, Marie’s husband, passed away. They had to file for bankruptcy on numerous occasions as the business has not been the same since then. They had to close a lot of their branches but still have about 28 doors open in California, where their headquarters is also located.
Marie Callenders
Kona Grill
Kona Grill is a sushi restaurant that started in Scottsdale, Arizona, and has about 40 restaurants across the US and Puerto Rico. They also have three international branches but, in recent times, had to announce they filed for bankruptcy with a lot of its doors closing shortly after. The company was established in 1998 but a little over two decades later and they have to be searching and thinking hard about their way going forward. They were considering a merger, but it never worked out, so they filed for bankruptcy amidst rumors that the current CEO was opting to leave the restaurant chain.
Kona Grill
Quiznos
Quiznos is similar to Subway, with its main focus being the subs as well. Jimmy Lambatos founded the popular food chain in 1981, which grew immensely to over 5,000 locations as of 2002. About 1,000 of the restaurants’ doors were closed in the US in 2007, even though they still have both local and international locations running. In 2014, the restaurant had to file for bankruptcy, but lucky for them, they made a major comeback and managed to reduce their obligations by over $400 million. Quiznos headquarters is located in Denver, Colorado after it was bought out by High Bluff Capital. However, after some years, they had to downsize so badly that a 2018 report noted there were only about 800 Quiznos restaurants remaining.
Quiznos
Carrabba’s
Carrabba’s is a family-owned restaurant that opened its first door to the public in 1986 in Houston, Texas. Carrabba’s Italian Grill was a major success in the first few years of operation as they later merged with Outback Steakhouse, Inc., and initially became Bloomin’ Brands. This merger saw the restaurant opening more doors in Florida. As for international openings, 2015 would be the year Carrabba stepped outside the US and opened a new chain they called Abbraccio. However, amidst more stores being opened by Bloomin’ Brands, Carrabba’s, being a secondary company, kept closing some of their doors due to lack of profits and sustainability. Bloomin’ Brand currently has 1,500 restaurants.
Carrabba’s
Sbarro
Sbarro has a good number of branches across the country, and you may have seen one of them in the last few malls you visited. It is an Italian fast-food chain that was established in 1956 in Brooklyn but can be considered a more popular restaurant for college campuses. Sbarro’s headquarters are located in Columbus, Ohio, and have quite a few hundred locations. However, in 2014, the restaurant chain announced they would be closing out some of their branches but seems to be an ongoing thing for them year after year. Sadly, the closures may get worse after the 2020 pandemic hit many businesses hard. They noted they would close the underperforming branches and use the profits to improve those boosting the chain’s existence.
Sbarro
Outback Steakhouse
This year alone saw Outback Steakhouse closing a lot of its branches like its sister restaurant Carrabba’s. However, they have a lot of branches around the world but seem intent on closing compared to its affiliate companies, Bloomin’ Brands. There was a primary public offering of Bloomin’ in 2012, where the company was trying to raise over $300 million, based on a report released by SEC filings. The process wasn’t a complete failure, but still, Bloomin’ had to close down a lot of its stores that were not performing well. Outback Steakhouse’s first branch was established in Tampa, Florida, where they have had lots of success. Those restaurants in Florida are still in operation.
Outback Steakhouse
Bonefish Grill
Bonefish Grill is another company under Bloomin’ Brands and is considered an informal seafood restaurant initially established in St. Petersburg, Florida. A 2015 report showed the restaurant’s headquarters are in Tampa, and there are currently 215 locations. However, some of these doors will be closed due to underperformance – most of which will happen in Florida. The yearly income for Bonefish Grill stands at an estimated $619 million and is still a popular spot to eat for many people in and around Florida. The restaurant is guided by NCOAA sustainability suggestions as it relates to testing and approving their fishes as well as ensuring the supply is adequate.
Bonefish Grill
Church’s Chicken
Church’s chicken was founded in San Antonio, Texas, and is a franchise company with White Castle. The business’s headquarters is located in Atlanta, Georgia, with restaurants in the Caribbean, Europe, South America, The US, and Asia. Church’s chicken is known for its famous fried chicken, biscuits & jalapenos and has an annual income profit of over $786 million. However, it is still going through a lot of difficulties as during a 2019 report, the owners, Friedman, Fleischer & Lowe, noted the restaurant was having a major decline in sales and would be putting it on the market. To say if it will be a permanent closure, we still have to wait for that information.
Churchs Chicken
Papa John’s
Papa John’s is a household name in the US as it is one of the most popular pizza delivery restaurants across the country – it has more than 5,300 branches in the US. The company noted it has more than $2 billion in profits yearly and has been in operation for more than three decades. However, in recent times, they indicated they would be closing out about 51 of their branches due to low performance. With everything that went down in 2020 more closures could be imminent as sales have declined drastically. In addition to the pandemic, lots of its drop in sales also came after the long-running CEO, John Schnatter, parted ways with the company.
Papa John’s
Long John Silver’s
If you are a seafood lover and have always visited Long John Silver’s, you may want to keep an eye open as to whether your favorite spot will be among those closing out. Over the last few years, they have filed for bankruptcy several times as they have not been doing the best business-wise. The company got its name from Treasure Island by Robert Louis Stevenson and is owned by Yum! Brands with more than 80% being a franchise. More than 76 franchised branches that were in Indiana were purchased with the idea to reopen these stores. There is also a new CEO who has the initiative to close out the underperforming restaurants and introduce a healthier menu with more heart-healthy foods and less salt and fats.
Long John Silvers
Dairy Queen
Dairy Queen was created in 1940 and is a famous ice cream chain that is secondary to Berkshire Hathaway, Warren Buffet’s company. The company became integrated with Buffett after it acquired Orange Julius back in 1987. In addition to their local branches, they also have international outlets but have not been exempt from the hardship many companies seem to face, especially these days. The company has noted they have a thin profit line in comparison with their expenditure cost coupled with the many products they serve their customers. A lot of the affiliate companies have also filed for bankruptcy, such as Vasari LLC. In 2017, the company filed for bankruptcy and had to close a total of 70 stores.
Dairy Queen
Noodles & Company
If you love local and international pasta dishes, then we are sure you know the famous Noodles & Company…the fast-food outlet that serves the meals the way you like. Former Pepsi executive, Aaron Kennedy, founded the company in 1995 after seeking help from friends and family to raise funds to open the first restaurant in Denver, Colorado. As of 2019, there are 410 Noodles & Co. branches both locally and internationally. The company has done pretty well for itself, but after a $72 million loss in 2018, the company had to close a lot of its branches. Even though they managed to secure a loan, they were still unable to stop any of the store closures.
Noodles & Company
Hooters
Hooters, Inc. is privately-owned and serves a myriad of bar food – their chicken wings will have you drooling for more! Their waitresses are most times referred to as Hooters Girls. However, the company was pushed to the limit as they had to close out a lot of their stores to keep their business name in the game. Experts believe the company is focusing more on how women are seen, and as such, it is part of a transformational process. It is believed the younger generation is pulling away from the company while the older generation is still interested. Either way, it seems the company is slowly closing out of America’s restaurant history.
Hooters
Bob Evans
Bob Evans was established in 1953 by Mr. Bob Evans himself and had to open at least four sausage factories to supply the high demand at the time. To supply farms and investments for the restaurant belonged to the owner himself, so it was much easier to operate the company with ease. The setting for the restaurant falls under the farm-to-table setting with its enchanting red-and-white decor. Sadly, a lot of the stores had to close a few years later without the opportunity for staff to be transferred, so they were dismissed entirely. In a bid to increase its revenue, Bob Evans has had to keep closing a lot of its doors yearly, which is impacting a lot of lives and livelihood.
Bob Evans
Joe’s Crab Shack
Founded in Houston, Texas, Joe’s Crab Shack now has a lot of branches all across the USA, especially in the southern regions where it can incorporate the beach-themed setting. In 2006, the company was sold out to J.H. Whitney & Co. for approximately $192 million but soon went insolvent as it incurred a debt of over $225 million, which was identified by J.H. Whitney. In 2017, the company filed for bankruptcy and was purchased by Landry’s Inc. but still was faced with the initial store closures due to poor performance. The new managing company does not intend to close out all the stores but instead desires to redevelop and launch the restaurant with a new approach.
Joes Crab Shack
Papa Murphy’s Pizza
Papa Murphy’s Pizza is considered a “take and bake”-style restaurant founded in Washington in 1995. The establishment came after two companies formed a powerhouse – Papa Aldo’s and Murphy’s – which later became a household name with more than 1,300 branches in both Canada and the US. As for the West Coast, we can safely say Papa Murphy’s Pizza is a hot stop for many and is one of the top five largest pizza chains in America. However, as the years went by, they felt the brunt of hardship hit the company after Lee Equity purchased it in New York. It went through an IPO and started a nationwide advertising campaign a few years later. The initiative now is to close out the underperforming stores and incorporate the profits into improving the stronger-performing companies.
Papa Murphy’s Pizza
Tim Hortons
Tim Hortons has more than 4,800 stores around the world and is one of the fast-food joints that made a list for store closures for 2020. With headquarters in Toronto, Canada, it is the largest fast-food chain in Canada and was established by hockey player Tim Horton and Jim Charade in 1964 in Hamilton, Ontario. At first, the restaurant was a hamburger joint but then transformed preparing coffee and donuts. The changes and developments throughout the years helped them in succeeding and becoming a multi-billion-dollar company. However, the glory didn’t go far as they were hit with lots of hardship and had to close a lot of their doors. Also, Tim Horton, located in Dayton, Ohio, had to close its doors as well.
Tim Hortons
Applebee’s
Applebee’s is the sister company for IHOP, which was also featured earlier on this list and would be closing a lot of their stores, which are not contributing much to its revenue growth. As of early 2020, there were over 1,800 Applebee’s restaurants stretched across the US, Puerto Rico, and fifteen other countries around the world. Most of the branches are franchises, with only 70 of the total number being company-owned. They are an auxiliary company for DineEquity and recently moved its headquarters to Glendale. Steven Layt, the former president of Applebee’s, decided he would not relocate and decided to resign instead. The company earns an annual profit of about $2.5 billion, more than 28,000 employees, and an average of $935 million in assets.
Applebee’s
Buffalo Wild Wings
Buffalo Wild Wings is a sports bar that has over 1,200 branches across the United States and with its headquarters located north of Atlanta. The company was established in 1982 and now records an average yearly profit of over $2.9 billion. This occurred after the store closed out a lot of its branches across the US and is now looking to revamp its menu and overall operational plans.
Buffalo Wild Wings
Pollo Tropical
Pollo Tropical was founded in 1966 in Miami and is a Caribbean-inspired-fast-food chain with their delicious grilled chicken, black beans, and rice serving. The chain is owned by Fiesta Restaurant Group and has an average of 140 locations across Georgia, Texas, Florida, and lots of Latin-American countries. They have incorporated a lot of new business plans and models in a bid to improve their overall experience – it includes selling fried chicken. The company has since closed stores in Texas to help manage the financial inflow as well as contain the expansion as they had negative results in previous years. It is reported they are planning to open a few stores but only in Florida.
Pollo Tropical
Qdoba
Qdoba, Inc. is Chipotle’s main competitor and was founded in Denver. The famous restaurant got its fame from the fact that its menu focused on serving healthy foods against the known fatty meals on the market. They incorporate more fresh vegetables and herbs in their meals so you can enjoy and at an affordable cost. Jack formerly owned Qdoba in the Box before Apollo Global purchased it for approximately $305 million. This purchase meant Apollo acquired all 700 Qdoba stores, which operate in about 47 states. But, things were not the best for the company as they had to close a lot of their stores with more due for closure in 2020.
Qdoba
Sweet Tomatoes
Sweet Tomatoes is owned by Souplantation and is known for serving a wide variety of healthy foods, soup, bakery products, and salads. Established in San Diego in 1978, the company went on a major public hype in 1995. However, about ten years later, they went back to their original state… privately-owned. In recent times, they announced a massive closure of more than 100 locations due to a financial crisis. The parent company also noted they are currently working with money lenders.
Sweet Tomatoes
Old Country Buffet
Reports are going around that there is a feud between Old Country Buffet and Ovation Brands, its parent company. It is also believed that the company filed for bankruptcy a few times in 2012 and 2016. with a report indicating a debt margin of $26.3 million – more than its total assets worth. In earlier times, there were over 300 Old Country Buffet branches, but as of 2020, there were only 19 doors still open. 2020 could have brought the end of Old Country Buffet, it is too early to say.
Old Country Buffet
Chili’s
Chili’s is a bar food restaurant that was established in 1975 but later purchased by Brinker International. The restaurant was famous for its 3baby back ribs ad, which they had to reduce to focus on a more Tex-Mex cuisine and burgers. There are a total of 1,500 stores located in the US and internationally, but in recent years had to be closing a lot of the company-owned branches to increase their marginal profits. However, since Binker purchased a few of their branches earlier in the year, they seem to be having a little light at the end of the tunnel. But, for the rest of the branches? No one knows what will be post-2020.
Chilis
Sonic
Sonic is a drive-in-fast-food chain and was established in the 1950s. In recent times, the company developed Sonic Beach, where it serves its regular menu except with seafood and alcohol. Sonic has had a lot of changes over the years, one being them cutting ties with an ad agency, Barkley, a business relationship that lasted for 17 years. Sonic was later purchased by Inspire in December 2018 but was only pushed to close a lot of its doors, and even more so in 2020.
Sonic
Checkers
Checkers is a drive-in restaurant that is famous in the Southeast compared to its sister company, Rally’s, that is more popular in the Midwest. Rallies were established in 1986 and Checkers a year later in 1987. The two companies came together in 1999 and had their headquarters in Tampa, Florida. In 2017, Checkers was sold to Oak Hill Capital for approximately $525 million, to grow in the Pittsburgh area. As such, a lot of branches closed out in the Southeast regions as a result of improving their financial status.
Checkers
KFC
Colonel Sanders founded Kentucky Fried Chicken in 1930 after he started out selling his famous chicken recipe on a roadside stand in Kentucky – during the time of the Great Depression. After a while, he realized the company would do great as a franchise, so this process started in 1952. It took the world with a bang and became major competition for popular restaurants like McDonald’s, who only served burgers and fries. However, by the end of 2020, a lot of the branches were set to be closed in a bid to increase their profits as well as manage well against the many chicken-based restaurants on the market like Popeye’s and Chick-fil-A. These two companies could be considered KFC’s main rivals.
KFC
Ruby Tuesday
Ruby Tuesday is almost like Applebee’s and TGI Fridays and was established in 1972 in Knoxville, Tennessee. In recent times, its overall sales have been on a downward trend, and as such, the decision to close a lot of its stores is more than imminent. There are approximately 491 branches worldwide with a lot located on the east coast and some on the Pacific Coast. A few years back, the company also owned Marlin and Ray’s, but unfortunately, all those branches were closed out.
Ruby Tuesday