Popular Restaurant Chain with 22 New York Locations Announces Abrupt Closures

Steak lovers will have to find a new place to enjoy a good sirloin after a major steakhouse confirmed its shuttering numerous locations nationwide.

The Death of the American Steak House?

The COVID-19 pandemic and skyrocketing inflation were the 1-2 punch to take down multiple beloved restaurant chains.

Eateries like Ruby Tuesday had to close down hundreds of locations after filing for Chapter 11 bankruptcy. Other chains like Friendly's, Souplantation, Chuck E Cheese, California Pizza Kitchen, and IHOP all filed for bankruptcy, citing things like dropping profits and the pandemic.

However, a new string of closures brings to question about a certain type of restaurant chain that is quintessentially American - the steakhouse. Mashed recently published an article confirming what many feared: this industry is in a lot of trouble.

American appetites began shifting toward healthier and less expensive options even before the pandemic, but COVID-19 really accelerated that trend.  Before, people loved the concept of chowing down on a bloomin' onion while waiting for their 12 oz strip steak to come fresh off the grill. Now, people are looking at calorie content and if their bank account can afford a treat.

Sadly, Bloomin' Brands Inc., the parent company of Outback Steakhouse and home of the Aussie Cheese Fries, confirmed they are shuttering numerous locations nationwide.

Goodbye Outback?

Outback Steakhouse currently has 700 total locations across America, with 22 left in New York State. There was 23, but the Syracuse joint permanently closed, leaving Central New Yorkers to journey to Liverpool for their seemingly Australian dishes.

More locations will soon close their doors after Bloomin' Brands reported a disappointing Q4 earnings.

Nation's Restaurant News reports the company announced during a recent earnings call that they will close 41 "underperforming" locations

David Deno, CEO of Bloomin' Brands, said during the call:

We periodically review our asset base and, in our latest review, we made the decision to close 41 underperforming locations. The majority of these restaurants were older assets with leases from the '90s and early 2000s.

It wasn't immediately clear which restaurants will close for good, but insiders say some franchises have already shut down while 33 more would close by week's end.

On the bright side, Deno vowed that "40 to 45 new restaurants" will open by the end of the year. Again, no information was provided on where these new locations will be and what kinds of restaurants will be added.

Bloomin' owns Outback Steakhouse, Bonefish Grill, Carrabba's Italian Grill, Fleming's Prime Steakhouse & Wine Bar and Aussie Grill.

Out of all their owned stores, it seems only Carrabba's was the only restaurant to see an increase in earnings while all other shares slipped in the fourth quarter.

Bonefish appeared to have the worst decline of all, at 3 percent.