7 Big Chains Closing Restaurants in 2023

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Here’s some news that might ruin your appetite: Some popular food chains are closing restaurants in 2023.

From fast-food favorites to casual dining restaurants, some of the nation’s most iconic food chains are shuttering locations this year.

While some of these chains are closing just a handful of restaurants, at least one is planning to shut down hundreds of locations.

Check out the following roll call of national food chains that are pulling back this year.

Steak ‘n Shake

Steak 'n Shake
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Earlier this year, Steak ‘n Shake shuttered 11 franchised stores and two company-run locations. Since 2018, the company has reduced the number of its restaurants from 626 to 493.

Burger King

Burger King restaurant
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Fast-food giant Burger King says it will close between 300 and 400 restaurants this year. That is about double the number of closures in a typical year for the company.

Applebee’s

Applebee's restaurant
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Rising building costs and pressure on franchisees’ operating margins have caused Applebee’s to pull back from growth plans. The chain now expects to end the year with up to 20 fewer U.S. locations.

Red Lobster

Red Lobster
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At least eight Red Lobster locations closed early this year, and several others disappeared late in 2022. The closures are part of a trend that dates back to 2020.

Hardee’s

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This spring, a spate of Hardee’s closures took place in four states — Kansas, Missouri, South Carolina and Georgia. In all, a half-dozen locations closed their doors.

TGI Fridays

TGI Fridays in Minneapolis
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TGI Fridays has closed locations in Thornton, Colorado; Taunton, Massachusetts; Big Flats and Elmira, New York; and Plano, Texas. In many of these communities, residents learned of the closures abruptly after signs were posted on restaurant doors.

Incidentally, TGI Fridays CEO Ray Blanchette stepped down in May.

Chick-fil-A

Chick-fil-A
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We actually only have one Chick-fil-A closure to report — but it’s a doozy.

The first-ever Chick-fil-A recently closed its doors at the Greenbriar Mall food court location in Atlanta. The location had been doing business since 1967.

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