The brand hasnât yet declared bankruptcy but closing 450 isnât a small number. Thereâs a lot of competition for fast food burgers. The company was $57 million in debt, and it hoped the bankruptcy would save the remaining 58 restaurants. However, Marie Callenderâs wasnât part of the deal. Regardless, weâre not sure itâll help in the long run. Apparently, this Canadian chain isn't really killing it in the U.S. Tim Hortons has been … There are other franchises, but NPC International isn't happy with Pizza Hut. Before this occurred, 11 locations already closed due to the COVID-19 pandemic, but now, 34 will certainly follow. Boston Market has also struggled with bankruptcy, one which forced them to close 700 locations all at once. Then, we all realized why. Dunkinâ Donuts just released a statement that they had to close 450 stores, most inside gas stations and outlet stores. There was a disagreement-turned-lawsuit between the company that owns the restaurant and a regional company that operates 26 Perkins restaurants. Along with the bankruptcy, Joeâs suddenly closed 41 restaurants without even informing employees. USA Today referred to this chain as âa fading relic of the 1980s,â and theyâre spot on. In 2018, the business started looking for financial help because it had been struggling. , the most enthusiastic of all casual Italian eateries, was already in financial trouble for the … The last location closed in 2012. While we can never be 100% certain, weâre guessing that these restaurants wonât make it through the year. In 2014, Quiznos filed for bankruptcy, but recovery wasnât in sight. Ruby Tuesday used to be where everyone went to hang out, but not so much anymore. Over the last year or so, Bar Louie has been closing locations like crazy. Krystalâs is a southern company that seemed almost untouchable. Kids used to beg their parents to go to Chuck E. Cheese, but the chain has fallen on hard times. If you're looking to grab a bite to eat or a cup of coffee on New Year's Eve or New Year's Day, there are many options. The parent company, NRD Capital, released a statement that stated the restaurant can recover from this downfall as long as it can âdeliver on the basics.â Weâll just have to wait to see. Here are 29 restaurant chains … While no one can be 100% sure these chains will … When Steak ân Shake first popped up, it did really well. Every grocery store sells rotisserie chickens, and younger customers just want a different ambiance than the restaurant can offer. At the time, sales were down 4%. This accounts for nearly 40,000 employees. The declining chain has shuttered about a fourth of its restaurants over the last two years. These places, too, have been on a downturn. Younger people may not remember a time when Howard Johnsonâs was a restaurant. Sbarro has been one of the most popular pizza places in America since it popped up over 20 years ago. The restaurant has a pretty strong following thatâs been keeping it in business. Millennials, in particular, put more emphasis on freshly-prepared, quality ingredients, something Applebeeâs isnât known for. 25 Most Expensive Places to Live in the U.S. Pros and Cons of Being a Mechanical Engineer, 40 Most Out-of-the-Box Things Seized by the TSA, 40 Home Decor Mistakes Everyone Over 45 Should Avoid, 30 Classic Home Decor Trends That Make Us Cringe Today, 40 Pictures That Show How the Playboy Mansion Has Changed Over the Years. Thereâs McDonaldâs, Burger King, Hardees (or Carlâs Jr.), and tons of others. Thatâs a pretty big chunk. Applebeeâs has been on the downswing for a while. List of defunct fast-food restaurant chains; List of ice cream parlors; List of pizza chains; Lists of restaurants; List of revolving restaurants; List of seafood restaurants; References This page was last edited on 8 January 2021, at 06:58 (UTC). The company was $57 million in debt, and it hoped the bankruptcy would save the remaining 58 restaurants. This one is a long time coming. In 2019, the restaurant closed all locations in Alberta. USA Today referred to this chain as âa fading relic of the 1980s,â and theyâre spot on. Coined "dial-a-pizza," the Seattle-based chain grew to 42 restaurants. For two years, Friendlyâs has been closing so many stores that itâs decreased its number of locations by a fourth. This White Castle-esque fast food restaurant chain has 360 locations, but it seems like that number is getting smaller and smaller every year. If this doesnât work, we may not see this chain much longer.Â. Joe's Crab Shack and Fuddrucker's used to be staples of family vacations, as they are located in traditional "getaway" destinations. OâCharleyâs refuses to divulge details about its financial situation, which doesnât bode well. A total of 1,200 Pizza Huts are going to shut down in 27 states. Unfortunately, it hasnât made that much of a difference. Last year, Boston Market began shutting down its stores, and now, 10% of its locations disappeared. Carrabbaâs Italian Grill is owned by Bloominâ Brands, a company that was struggling not too long ago. The single biggest fast food chain by sheer volume, with over 20,000 stores just in the US, Subway should be eating $5 footlongs at the top of the heap. Things have shifted quite a bit thanks to a new group of consumers looking for something healthy and fresh for dinner, rather than the microwaved stuff you can get from Applebeeâs. The bankruptcy papers show that the company is over $100 million in debt. Friendly’s rebounded from a 2011 bankruptcy, but 2018 sales declined by more than 11%. The chain filed for bankruptcy, and many of the stores it planned to open were scrapped. Much like many other chains on our list, Burger Chef spawned over 1,000 locations and even introduced the concept of getting a toy with kid’s meals. Things seem to be picking up for the company, but all of its brands arenât performing equally as well. That same year, Perkins filed for bankruptcy for the second time in just 10 years. Surprise: Jack in the Box didnât do it. This sandwich chain peaked in the early 2000s, but itâs just a shadow of what it once was. The statement seemed to focus on the fact that Dunkinâ isnât suffering, but rather looking to put these stores in better places. Ruby Tuesdays was one of the first chains to update its menu and feature craft cocktails, but it wasnât enough to keep things running smoothly. Unfortunately, things arenât working out in Houlihanâs favor. 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