Legal Statement. Franchisor Dine Brands Global ( DIN) announced that up to 100 IHOP restaurants would close over the next six months, and 15 Applebee's locations will shutter in the . Third-quarter sales ending in September dropped 18.7% to $176.6 million from $217.4 million last year, Dine Brands Global said. IHOP S Randolph Ave. Close. As of April 2021, only 6 remained open, all of which are California locations of Tahoe Joe's. As ofSeptember 30, out of 1,683 domestic IHOP restaurants,1,425 were open for in-restaurant dining. Interested primarily in Tahoe Joe's, BBQ Holdings did not, at the time of the auction, have any immediate plans to revive Ryan's or any of Fresh Acquisitions' other buffet brands. Golden Corral operates as a franchise. While other pizza chains may have thrived as more and more people opted to order food to their homes, this chain's existing financial problems only worsened in 2020 and continued into 2021 (via Forbes and FSR Magazine). Residents of San Antonio have recently lost one beloved burger destination. But one style of dining that was particularly hard-hit were buffets. Stories of Ryan's locations closing, often without warning, started hitting the news soon after. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. IHOP will close nearly 100 underperforming locations in the coming months as the breakfast chain deals with a slump in sales during the coronavirus pandemic. The loss proved prophetic. IHOP will close nearly 100 restaurants in the next six months, the pancake house and breakfast chain's parent company, Dine Brands Global, revealed in its third-quarter earnings report. On May 18, Pacific Northwest chain Specialty's Bakery and Caf suddenly announced it would close all 33 locations for good after May 19. Restaurant Business Online reported in 2020 that the chain's largest franchisee, 1069 Restaurant Group, filed for Chapter 11 bankruptcy protection. However, this is likely only the beginning of a large wave of closures for casual dining concepts, which are much less likely to make it through the pandemic unscathed than delivery-oriented restaurants. Dine Brands Global, which also owns Applebees, further anticipates around 15 of the chains restaurants in the U.S. will close in the fourth quarter as a result of downsizing. Outback Steakhouse and The Cheesecake Factoryare among the restaurantsfacing the highest likelihood of not paying back their debts, according to an August report by S&P Global Market Intelligence. After a settlement with the state of California that forced BurgerIM to refund more than $57 million in franchise fees and pay $4 million in fines, it seems the brand won't be around much longer. Although it serves New Orleans-inspired cuisine, the chain was actually started in Frisco, Colorado. But facing increased competition from rival chains like McDonald's, Burger King, and KFC, HoJo's lost its footing in the latter half of the century. June Ross, left, from Lancaster, and friend Barbara Murray, from Victorville, fill their plates up while visiting the salad bar at Souplantation in Camarillo. Meatheads Burgers & Fries, a Chicago-based chain, declared bankruptcy in April 2021(via Restaurant Business Online). Sales at both restaurant chains increased nearly every week from July through September . Since 1958, IHOPhas been the place where people connect over breakfast, enjoy study breaks, grab a bite before or after sporting events, and so much more. All Rights Reserved. The Lost Cajun restaurant has been serving up Southern favorites like fried catfish, gumbo, po-boys, red beans and rice, and more since 2010(via Forbes). Get the best food tips and diet advice every single day, Now, you'll have the best and latest food and healthy eating news right in your inboxevery Here's the full list of chains. These closures represent a 95% increase over the average yearly closure rate. Curbside Pickup; Dine-In; Online Ordering; Takeout Available; . Facing financial challenges and declining sales, this burger chain may fizzle out by the end of the year. Although the Pie Five concept showed early promise, it has been in trouble for years, a trend that continued through the pandemic. A spokesperson for DINE Brands,. Hale & Hearty shuttered all 16 of its locations on July 1. (Source: CNN/file) By CNN Staff. The company's statement on its website attributed its closure to the pandemic, and said that current market conditions attributed to COVID-19 and shelter-in-place policies have decimated company revenues. Castlegate Shopping Centre, Stockton - CLOSED. The beloved restaurant's parent company, Dine Brands Incwhich also owns Applebee'sannounced on Thursday, October 30 that it would be shutting down almost 100 locations across the U.S. over the next six months. At the time, the chain operated 155 Pizza Inns in the U.S., as well as 48 international locations, mainly in the Middle East. xhr.setRequestHeader('Content-Type', 'text/plain;charset=UTF-8'); Dave & Buster's isn't the only entertainment complex struggling to rebound during the pandemic. The pandemic has been especially bad news for buffet restaurants. A Minneapolis Target store was destroyed by looti Paytm makes single click payments possible with UPI LITE you can now make UPI payments up to 200 without pin, Internet hails Paytm's lightning-fast payments with UPI LITE here's how you can use it, A business class airline passenger who ordered vegan food says it was insulting to be served one banana along with a pair of chopsticks, Vivo V27 Pro Review: Capable camera performance in a sleek form factor, Divgi TorqTransfer Systems IPO subscribed 12% on day 1, Investing is an art and the ultra rich are showing us how. The Glendale, Calif-based company, known for its breakfast feasts of pancakes, omelets and stuffed French toast, has sought toramp up its take-out and delivery business due to closures and capacity restrictions indining rooms as a result of COVID-19 restrictions. Arizona IHOP locations (51) California IHOP locations (315) Colorado IHOP locations (49) Connecticut IHOP locations (15) District of Columbia IHOP locations (2) Delaware IHOP locations (11) Florida IHOP locations (250) Georgia IHOP locations (92) Hawaii IHOP locations (8) Iowa IHOP locations (10) Idaho IHOP locations (10) Our newsletter gives you access to a curated selection of the most important stories daily. If the challenges caused by lost sales and staff shortages continue, this may not be the case. Hale & Hearty, shuttered all 16 of its locations on July 1. . (Source: CNN/file) By CNN Staff. Although it started as a tiny place with only four menu items, the chain has grown to 24 locations across 6 states. It became the first (and so far, the only) major buffet chain to announce it would close all restaurants permanently due to the pandemic's impact on business. It isn't the only casual dining chain that faced similar issues; Olive Garden has also struggled to update its image and stay relevant to modern diners (via CNN). Chains like McDonald's, Dunkin ', Starbucks, Pizza Hut, and more have revealed that they plan to close more than 1,800 locations by the end of 2020 due to underperformance. If the trend continues, Pizza Inn lovers may be looking elsewhere for their Alfredo Cheese pizzas. A new report from The Washington Post suggests that initial figures may have slightly overestimated the gravity of the situation. Two of your favorite restaurant chains are owned by the same companyDine Brands Global, Inc. In May of 2020, it was announced that 71 locations of the popular Italian chain, BRIO Tuscan Grille and Bravo Italian Kitchen might not reopen, following temporary closures due to COVID-19 (via Nation's Restaurant News). The closings come as the fast food giant reported its lowest quarterly profits in 13 years, according to the Financial Times. document.addEventListener( 'DOMContentLoaded', function() { At its peak in 2015, Hale & Hearty had 34 stores across the Big Apple and claimed desirable, high-rent locations that brought in foot traffic from the office lunch crowd. Founder and owner Raymond Griffin remained optimistic, telling FSR Magazine that The Lost Cajun "ain't going nowhere." "We are confident that we will eventually replace these severely underperforming locations with better performing restaurants that have volumes closer to pre-COVID levels," said Dine Brands in a statement. Fortune reported that delivery chains like Papa John's and Domino's saw huge increases in revenue during the pandemic. single Click Manage settings for more information and to manage your choices. A punch of winter weather will bring snow to much of Massachusetts Monday night into Tuesday with 5 to 9 inches of snow expected in . IHOP may close up to 100 locations in the U.S. as the pandemic continues to affect indoor dining operations across the country. ', Death toll keeps rising in Greece's deadliest train crash, Man arrested on suspicion of murder in September killing of teen in south Wichita, Hikers stumble upon rare 2,500-year-old item and thought it was elaborate prank. A commonly cited piece of data is the National Restaurant Association's estimate of 90,000 pandemic-related closuresin 2020. Chicago Mayor Lightfoot ousted; Vallas, Johnson in runoff, King asks Duke and Duchess of Sussex to move out of Frogmore so Prince Andrew can move in, Biden Mocks Marjorie Taylor Greene With 1 Simple Hand Gesture, A Nebraska high-school cheerleader competed on her own after the rest of her squad quit. It's like having your own classified site. According to Nation's Restaurant News, in May 2020, one franchisee, which previously operated 49 IHOP locations, filed for Chapter 11 bankruptcy protection. Ryan's parent company, which also owns 5 other buffet chains, including Old Country Buffet, declared bankruptcy in early 2021. Per Restaurant Business Online, although the chain saw early success, it was forced to file for Chapter 11 bankruptcy protection in April 2021. IHOP's comparable restaurants were down 23.5% in the third quarter, the company reported on Wednesday. } Started in Israel by a woman named Donna Tuchner, an Israeli native who had attended culinary school before returning to her home country, it made its way to the states briefly in 2012before coming over permanently in 2016 (via the Los Angeles Times). Prior to the pandemic, the company owned 90 restaurants in 27 states. Another buffet on the chopping block is Golden Corral. IHOP's comparable restaurants were down 23.5% in the third quarter, the company reported on Wednesday. FAQ - New Privacy Policy. The pandemic has affected the business of big chains like IHOP and small, mom and pop restaurants. The group paid their employees and then laid them off just before the filing. A representative for the company told Business Insider that the chain will close "just under 100 of our underperforming restaurants.". By 2000, there were less than a few dozen Howard Johnson's remaining. And early data shows that reopening isn't the fiscal cure-all some hoped it would be, especially for restaurants. Also join us across all of our other channels - we love to be connected! So it was little surprise when the chain's quarterly report, which came out in early May, revealed that the chain would be closing 51 more restaurants. , which had opened its first restaurant ten years earlier in 1987. Per Today, the chain tried to adjust to the closures by offeringpizzas and other carry-out-friendly foods for curbside pickup under the name Pasqually's Pizza & Wings. When Hale & Hearty first opened in New York City nearly 20 years ago, it was the perfect place to grab a soup and sandwich combo. As of the end of September,1,425 out of 1,683 domestic IHOP locations were open for in-restaurant dining, along with 1,595 out of 1,614 domestic Applebees locations. There are over 1,000 IHOP locations in the US. This, however, isn't the first time that the chain has had to close down locations this year. Applebee's Is Testing Out Their First Drive-Thru Window, Pizza Hut, McDonald's and More Chains Permanently Close Hundreds of Locations amid Pandemic, Cheers! Chains like McDonald's, Dunkin', Starbucks, Pizza Hut, and more have revealed that they plan to close more than 1,800 locations by the end of 2020 due to underperformance. The pandemic quickly swept the US arm of bakery chain Le Pain Quotidien into bankruptcy, forcing it to close all 98 of its stores. Sixteen IHOP locations closed during the most recent quarter, with 35 restaurants closing so far in 2020. The chain of entertainment centers folded in late 2021, announcing on Christmas Eve the closure of its six remaining locations. Much like its close relative, Applebee's has faced challenges in the wake of COVID-19. Today, they have under 400 (via Scrape Hero). Unblock notifications in browser settings. "These closures will allow us to remain focused on continuing to close the gap on sales, as well as focus on key priorities including expanding off-premise, ensuring restaurant safety and providing compelling value and innovation," a representative for Dine Brands Inc. said in a statement. 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