In 2024 and 2025, Wendy’s anticipates closing a total of 140 restaurants that have been underperforming. Many will be replaced by new restaurants in better locations, executives said.
TGI Fridays
TGI Fridays
TGI Fridays closed 36 underperforming locations in January and another 50 locations in October, leaving the once-thriving casual dining concept with just 164 locations. In 2013, its footprint was nearly 530 units.
Applebee’s Neighborhood Grill & Bar
Applebee's
During an earnings call earlier this year, Applebee’s executives shared that the chain will be closing about 35 restaurants across the country to focus on stronger existing units before eventually getting back to net new unit growth. Eight Applebee’s closed in October after franchisee Apple Central KC filed for bankruptcy.
Frisch’s Big Boy
Frisch's Big Boy
Frisch’s Big Boy is closing an unspecified number of locations due to “unforeseen circumstances.” The chain is managing several lawsuits over unpaid back rent from landlords.
Shari’s Café & Pies
Shari's
Shari’s Café & Pies — a regional family-dining chain known for its hexagon-shaped building and Northwest-style comfort food — abruptly closed its remaining locations in October after its footprint dwindled from 42 to 17 this year.
Denny’s Corp.
Denny’s Corp.
Denny’s Corp. has closed about half the 150 underperforming restaurants it plans to shutter through 2025 to improve its portfolio.
Shake Shack
Shake Shack
In August, Shake Shack announced it was closing nine company-owned restaurants, citing underperformance and possible cannibalization of other locations in the 527-unit system.
KFC
KFC
About 25 KFC restaurants abruptly closed in August in Illinois, Indiana, and Wisconsin. All were owned by EYM Group, which also closed several Pizza Hut locations in July and filed for bankruptcy.
Pizza Hut
Pizza Hut
EYM Group shuttered 15 Pizza Hut locations in Indiana and Ohio following back-and-forth lawsuits with its franchisor.
Hooters
Hooters
Hooters closed about 40 underperforming restaurants during the summer, citing current market conditions.
Rubio’s
Rubio’s
Rubio’s abruptly shuttered nearly 50 locations in June, citing the current business climate in the state. The company filed for bankruptcy shortly after the closures.
Red Lobster
Red Lobster
Also prior to its bankruptcy filing in May, Red Lobster closed about 87 locations.
Outback Steakhouse
Bloomin' Brands Inc.
In February, Bloomin’ Brands announced it was closing 41 restaurants across its portfolio, including Outback Steakhouse, as it weighs underperforming units.
