It’s a bad time for fast-casual sit-down restaurant chains. Red Lobster, Buca di Beppo, Hooters, TGI Fridays, Denny’s… many beloved eateries have been forced to downsize or shut down altogether. Steakhouse chains haven’t escaped the dire financial issues impacting the industry as a whole. Customer traffic is down 17% compared to the same period in 2019, analysts say. “A whole lot of these companies are finding their sales aren’t turning out to be as strong as expected,” Jim Sanderson, a restaurant industry analyst for Northcoast Research, tells TIME Magazine. Here are five American steakhouses in danger of closing down due to a decline in sales.
Black Angus Steakhouse
Sales at Black Angus Steakhouse have fallen 29% from 2018 to 2023, according to Technomic. John Bringardner, executive editor of Debtwire, tells Restaurant Business the chain’s debt is selling at pennies on the dollar. “It is extremely bad,” Bringardner says. “It’s a sign that the debt holders really think that there’s little likelihood of recovery there.” Black Angus is still hopeful they can save the business and avoid bankruptcy. “In today’s restaurant climate it is a fair question, but thankfully one that does not pertain to us,” VP of Growth Deborah Shapiro told Restaurant Business.
Outback Steakhouse
After declining sales, Outback Steakhouse is trying to get customers back in restaurants by offering more value for money. The chain is offering $14.99 three-course meals and a renewed focus on “value and abundance”. “Taken together, this will likely result in a more simplified menu at Outback with fewer items and higher value,” Bloomin’ CEO Dave Deno tells Restaurant Business.
Sizzler
Like a phoenix rising from the ashes, Sizzler is attempting to renew its business after filing for bankruptcy in 2020. The beloved chain is mostly based on the West Coast, and went from 270 locations to its current 77. “I always say you grew up in Southern California, two things are true: You avoid the 405,” company president Chris Perkins tells SFGate. “And you grew up eating at Sizzler. Southern California and Los Angeles are still the beating heart for our brand.”
York Steak House
The last remaining York Steak House is still open in Columbus, Ohio—for now. The chain started in 1966 with nearly 180 locations by 1976, according to WCMH. The owner sold the Columbus location in 2024, after running it for a staggering 45 years. “After 45 years, Jay is ready to retire and the business is officially FOR SALE,” according to a social media post. “The restaurant continues to have great success and offers a perfect opportunity for a future owner.” The restaurant was sold and is still popular—let’s hope it stays that way.
Western Sizzlin’
Founded in 1962 in Augusta, GA, Western Sizzlin’ is the “home of the FlameKist steaks.” There are 33 locations still running in the U.S., down from more than 600 locations in its heyday. The chain filed for bankruptcy in 1992 and never recovered. “The restaurant business is really hard and truly demanding, especially if you want to do it right. It takes so much of your time, and I’ve got grandkids and kids. I never got to spend a Mother’s Day with my mom,” James Cooper, former long-time owner of the Western Sizzlin’ in Opelika, Alabama, told WRBL News 3.
Ferozan Mast
Ferozan Mast is a science, health and wellness writer with a passion for making science and research-backed information accessible to a general audience. Read more about Ferozan
