Classic American Restaurant Chains Close to Disappear
Luby's Inc, the cafeteria-style chain's parent company, announced its closure in September. Luby's Cafeteria, which created the popular LuAnn plate, will close.
Luby's 77 company-owned locations were planned for closure, but current CEO Chris Pappas may buy the brand, saving it from liquidation.
Fuddruckers is also owned by Luby's Inc. Fuddruckers' 50 company-owned and 100 franchised stores face the possibility of permanent closure.
The southern chain of North Carolina, South Carolina, Virginia, and West Virginia has filed for chapter 11 bankruptcy.
The 80-year-old family-owned firm will either sell the remaining 19 eateries or restructure to reduce debt.
The eatery that popularised cheap steak has declared bankruptcy. Sizzler may close several of its 14 company-owned locations in order to reduce its debt and renegotiate leases.
The bankruptcy won't affect the company's 90 franchisees. It's unknown how long this 1970s-1980s brand can appeal to today's younger customers.
Dave & Buster's
Dave & Buster's hasn't filed for bankruptcy, but warning signals are growing. The corporation just announced layoffs through November.
Their prosperity relies significantly on foot traffic and on-premise gaming, thus the epidemic has hurt their bottom line.
The corporation recently indicated bankruptcy is possible if they don't strike an agreement with its lenders.
The largest Golden Corral franchisee has filed for bankruptcy. Eric and Diane Holm's 1069 Restaurant Group runs 33 buffet restaurants in Florida and Georgia.
Costco Is Bringing Back Beloved Bakery Item