The restaurant industry has been hit hard by the COVID-19 pandemic, with hundreds of restaurant chains closing locations across the country. From fast-food giants to casual dining spots, many of the most popular restaurants have been forced to close their doors due to the economic downturn. In this article, we’ll take a look at seven restaurant chains that have closed hundreds of locations in the past year. We’ll discuss the reasons behind the closures, the impact on the restaurant industry, and what the future may hold for these beloved eateries.
7 Restaurant Chains Closing Hundreds of Locations
3. Ruby Tuesday
4. TGI Fridays
5. Buffalo Wild Wings
7. Outback Steakhouse
The primary spherical of restaurant closures within the spring noticed a number of fast-food chains submitting for chapter, tons of of restaurant areas closing for good, and a few fast-casual manufacturers disappearing eternally.
But it surely seems to be like restaurant closures are nowhere close to over. The second wave of closures was put in movement this summer time, and by the top of this 12 months, we’ll see tons of, if not 1000’s, extra fast-food areas closing all around the nation.
In case you missed it, listed here are a number of the greatest chains which might be chopping down on their nationwide footprint.
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In October, Restaurant Enterprise reported that Starbucks will shut one other 100 U.S. areas, bringing the espresso chain as much as 500 closures within the U.S. and 800 in North America (Canada is hard-hit by the closures, too). It isn’t all unhealthy information, although—Restaurant Enterprise famous that Starbucks will open 850 new areas.
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You’ll have to say goodbye to a Pizza Hut in your space quickly. As a consequence of certainly one of their greatest franchisees submitting for chapter, the pizza chain introduced the closure of some 300 areas final month. Whereas it stays to be seen which precise areas are closing, it’s presumed that the eating places that depend on dine-in foot site visitors would be the first ones on the chopping block, as these have suffered most in the course of the pandemic.
Burger King’s dad or mum firm, Restaurant Manufacturers Worldwide, introduced in August that the variety of fast-food closures might be within the tons of amongst its three manufacturers: Burger King, Popeyes, and Tim Hortons. Burger King was poised for speedy progress earlier than the pandemic hit however is placing these plans on maintain in an effort to prune the underperforming areas and spend money on extra drive-thrus, for which the chain has already unveiled new designs.
The espresso and fast-food chain is owned by the identical dad or mum firm as Burger King and is one other model whose areas are substantial closures. Nevertheless, Tim Hortons is the most important quick-service chain in Canada, and many of the closures are anticipated to happen in that market.
In July, America’s favourite espresso chain introduced the closure of a whopping 800 areas by the top of the 12 months. About half of the shuttering shops are situated in Speedway gasoline stations, a part of a partnership between the 2 manufacturers that got here to an finish this 12 months. However there is not any purpose to panic—the closing areas characterize solely about 8% of Dunkin’s shops nationwide, so there ought to nonetheless be loads of alternatives to get your espresso and donuts.
McDonald’s has additionally began pruning the variety of its shops this 12 months, asserting in July that the corporate can be closing 200 eating places. Greater than half of these areas are smaller items situated inside Walmart shops, which is consultant of the fast-food large’s long-term plan of transitioning from malls and related retail areas to the at present extra fascinating enterprise mannequin of drive-thrus.
In February, The Wall Road Journal reported that Applebee’s deliberate to shut 200 “underperforming Applebee’s areas.” Nevertheless, there are nonetheless lots extra Applebee’s areas throughout the nation.
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