Outback Steakhouse Closed Dozens of ‘Underperforming’ Restaurants

Published on February 26, 2024

The parent company of fast-casual restaurant Outback Steakhouse announced it will close several-dozen locations across the United States due to performance issues. In a recent earnings call for the most recent quarter, CEO David Deno said that “we periodically review our asset base and, in our latest review, we made the decision to close 41 underperforming locations,” adding that the “majority of these restaurants were older assets with leases from the ‘90s and early 2000s,” “Closing restaurants is never easy,” a Bloomin’ Brands spokesperson told news outlets after the call was released. “This was a business decision that has no reflection on the staff or their service. Many team members will have the opportunity to transfer to open positions at another restaurant. Employees who do not will receive severance.”...

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