As American taste buds change and operational costs rise, some chain restaurants are struggling to stay afloat.
Interest in sit-down meals has waned(grocery deliveryor takeout, anyone?)
and that led to restaurants that announced closures in 2024.
The chain announcedplans to close 150 locationsby 2025 as part of a business revival plan.
Half of those closures took place in 2024.
The remaining closures are on the horizon, representing about 10% of Dennys locations total.
Dennys leadership cited a lack of consumer demand and inflation as key contributors to the decline.
Hooters
Even if you havent eaten there, most people recognize the nameHootersand its business model.
The restaurant known for bar food served by employees in signature outfits closed dozens of locations this year.
It closed a select number of underperforming stores in states such as Florida, Kentucky and North Carolina.
Its future still remains unknown; it closed 18 underperforming locations in 2024.
We may be waivingciaoto Buca di Beppo in 2025 if things dont turn around.
TGI Fridays
The pandemic wasnt kind to TGI Fridays.
TGI Fridayscited $37 million in debtand just $5.9 million in cash.
Thats a pretty big decline for an operation that used to generate $2 billion in annual revenue.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
5.
However, demand has been anything but hot lately for the fast-casual restaurant chain.
In 2024,MOD closed 44 locationsand faced lots of speculation over whether a bankruptcy filing was imminent.
Elite Restaurant Group swooped in and acquired MOD in late 2024.
Rubios Coastal Grill
Rubios Coastal Grill is a Mexican fast-casual spot that is known for its fish tacos.
This was its second bankruptcy after a pandemic-influenced filing in 2020.
The chain is seeking a new investor to keep things running.
But unless a successful restructuring plan emerges, the end may be near for this chain.
World of Beer
Even beer brands are feeling the pinch of inflation, labor shortages and changing consumer tastes.
World of Beer has struggled to recover from the pandemic andfiled for Chapter 11 bankruptcyprotection in 2024.
It has closed 14 locations in 12 months and now has 33 locations left.
Thats a pretty rough patch for what was once one of the countrys fastest-growing taverns.
Dont Miss:6 Companies That Send People Money When Theyre Asked Nicely
8.
Itfiled for Chapter 11 bankruptcy protectionin April 2024 and closed four locations.
Tijuana Flats
Tijuana Flats opened in 1995 as a Florida-based Tex-Mex chain.
The fast-casual spot was sold to private equity in 2015, but ended upfiling for bankruptcyin 2024.
Since then, it has closed 11 restaurants.
BurgerFi
BurgerFi opened in 2011 in Fort Lauderdale, Florida.
Over the last decade, its become synonymous with better burgers and antibiotic-free beef.
However, that hasnt been enough to withstand economic headwinds.
BurgerFi International Inc.filed for Chapter 11 bankruptcyprotection in September 2024.
Theyve closed 19 locations, citing declining sales, high employee turnover and an outdated menu.
There are 144 locations that remain open, and the brand remains optimistic about turning things around.
Well see if its efforts are enough to revive the brand in 2025.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
