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Read on for the scoop on 12 restaurant chains that have already closed (or announced plans to close) locations in 2024.
Now, Wendy's has also joined the growing list of restaurant brands closing a significant number of stores in 2024.The burger chain released its latest quarterly earnings results on May 2 ...
Several restaurants have been filing for Chapter 11 bankruptcy or closing stores in 2024, including Red Lobster, Hooters, Tijuana Flats and Alamo Drafthouse to name a few.
99 Cents Only Stores announced on April 4, 2024 that its 371 locations in the Western United States would begin to close. The COVID-19 pandemic, inflation, and shrink were cited as major reasons for the closure. [3] The company had considered filing for bankruptcy prior to the announcement. [4]
Across the United States, a large number of local stores and store chains that started between the 1920s and 1950s have become defunct since the late 1960s, when many chains were either consolidated or liquidated. Some may have been lost due to mergers, while others were affected by a phenomenon of large store closings in the 2010s known as the retail apocalypse .
Brait Fund specializes in transforming underperforming properties into valuable community assets. They focus on local entertainment tenants, food and restaurants, and vibrant e-commerce businesses "Richland Mall and its roughly 28 acres sell for $4 million". April 16, 2024. Retrieved 22 May 2024.
Hooters said Monday that it's closing "a select" number of underperforming restaurants, the latest casual dining chain to announce shutdowns amid broader industry woes.
Hooters is the latest chain to close dozens of locations across the US, blaming tough economic challenges that restaurants are contending with including rising food and labor costs.