The seafood chain has been losing restaurants. Red Lobster closed five locations in 2021 and eight in 2022–2023. Red Lobster's 1% shutdown may continue in 2023.
The Thai Union Group, which owns Red Lobster, claimed the closures were in the chain's best interest and are not the company's end.
Applebee's late-night half-apps savings and brilliantly festive drinks haven't been enough to save the restaurant business, which has had to close many U.S. sites.
Although promising a comeback in 2023, the corporation started losing money in 2017.
Burger King has lost franchisees despite its $400 million "Reclaim the Flame" campaign.
A franchisee closed all 26 restaurants in April 2023. Burger King sued EYM King for not paying royalties, ad fund payments, and other fees.
The 1960s-founded TGI Friday's closed 20% of its restaurants during the epidemic and will close more in 2023.
After closing some stores in 2022, the "Every Hour is Happy Hour" sit-down chain has 289 locations. In February 2023, several TGI Friday's in Massachusetts and Texas closed permanently.
Krispy Kreme will close 14 sites in 2023 despite record revenues in 2022 and an intriguing partnership with McDonald's.
These closures are more a pruning of underperforming stores than company-wide difficulties.