Outback Steakhouse is closing more than 40 restaurants as part of an ongoing plan to turn around the company’s financial standing. The closures were confirmed Thursday in an earnings report released by the chain’s parent company, Bloomin’ Brands.
The chain closed 21 locations in October and plans not to renew leases at an additional 22 locations. Those leases are all set to expire within the next four years, according to Bloomin’. A list of specific restaurants that have closed or are expected to close was not provided by Bloomin’.
As of Sept. 29, there are now 679 Outback Steakhouse locations in the U.S.
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The closures are part of a turnaround strategy Bloomin’ has deployed in hopes of turning around Outback’s declining business. As part of the efforts, the company is cutting back on spending in non-guest facing areas and working to pay down debt.
Aside from financial changes, Outback is working to improve the guest experience through investments in the facilities and staff. The chain is also working to reshape its image to attract new and former customers.
Outback joins a growing list of restaurant chains that have already or plan to close locations nationwide.
Earlier this year, Red Robin confirmed it was considering closing up to 70 locations, with 10 to 15 closing in 2025. Tex-Mex chain On the Border closed restaurants all over the U.S. as part of bankruptcy proceedings.
As it continues to reestablish its brand, Hooters closed more than 30 restaurants earlier this year. Wahlburgers shuttered 79 restaurants that were located inside Hy-Vee grocery stores, leaving the company with 34 locations nationwide.
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