10 Major Restaurant Chains Closing Locations in 2024

Several popular restaurant chains, including Applebee’s, Red Lobster, and Hooters, are closing locations amidst economic challenges in the inflationary economy.

These closures come as chains face financial pressures, changing consumer preferences, declining sales, and efforts to reduce costs. Applebee’s, Red Lobster, and Hooters have cited underperformance as a primary reason for closing some of their restaurants. They are not the only ones; here are some other major chains that have made the decision to shutter locations this year.