All articles tagged with #restaurant industry
Originally Published 5 days ago — by Los Angeles Times
Horses, a renowned Los Angeles restaurant known for its modern cuisine and celebrity clientele, has closed indefinitely following a scandal involving its owners' divorce and allegations of animal abuse and domestic violence. The closure was also influenced by structural issues and financial troubles, including tax liens. The future of the restaurant remains uncertain.
Originally Published 6 days ago — by CNBC
Chick-fil-A is launching its largest marketing campaign ever to celebrate its 80th anniversary, featuring retro packaging, collectible cups, themed merchandise, and promotions like free food for a year, aiming to attract more customers amid declining restaurant traffic and slower sales growth.
Originally Published 9 days ago — by Fortune
Damola Adamolekun, the 36-year-old CEO of Red Lobster, is leading a significant turnaround for the company after bankruptcy, with plans to improve efficiency, renovate locations, and make dining more affordable, aiming for what he calls the 'greatest comeback in the restaurant industry'.
Originally Published 9 days ago — by Fortune
Damola Adamolekun, the 36-year-old CEO of Red Lobster, is leading a significant turnaround for the company after its bankruptcy, with plans to improve efficiency, renovate locations, and make dining more affordable, aiming for what he calls the 'greatest comeback in the restaurant industry's history.'
Originally Published 9 days ago — by Yahoo Finance
Red Lobster, after filing for bankruptcy in 2024, has rapidly recovered under the leadership of 36-year-old CEO Damola Adamolekun, who aims to make it the greatest comeback in restaurant history by focusing on operational efficiency and strategic reinvestment, with positive financial projections for 2026 and beyond.
Originally Published 9 days ago — by Fortune
Damola Adamolekun, the 36-year-old CEO of Red Lobster, is leading a significant turnaround for the company after bankruptcy, focusing on operational efficiency, location renovations, menu simplification, and affordability, with plans for a historic comeback in the restaurant industry.
Originally Published 14 days ago — by CNBC
In 2025, 'value' remained the key focus for restaurants as consumers, especially those with lower incomes, cut back on dining out due to economic pressures. McDonald's and other chains intensified their value offerings, with McDonald's extending its $5 value meal and other promotions to attract budget-conscious diners. While fast-casual chains like Chipotle and Sweetgreen avoided deep discounts, some casual-dining chains like Chili's and Olive Garden successfully leveraged value strategies to boost sales. The industry anticipates continued value-driven competition in 2026 amid economic uncertainties and rising costs, with no signs of a significant shift away from value-focused strategies.
Originally Published 22 days ago — by The Guardian
The article explores how the US economy under Trump's administration has impacted food consumption, highlighting rising food costs, increased demand at food pantries, and the disparity between different socioeconomic groups, with some still spending lavishly on luxury foods like caviar while others struggle to afford basic necessities.
Originally Published 2 months ago — by MLive.com
Outback Steakhouse is closing over 40 locations as part of a financial turnaround plan by parent company Bloomin' Brands, which includes cost-cutting, debt reduction, and improving customer experience, amidst a broader trend of restaurant closures nationwide.
Originally Published 2 months ago — by CNN
Outback Steakhouse closed 21 restaurants in October and plans to close more over the next four years as part of a $75 million turnaround strategy, including renovations and menu updates, to improve its competitiveness amid declining sales and changing consumer preferences.
Originally Published 2 months ago — by Syracuse.com
Yum Brands is considering selling Pizza Hut as part of a formal review of options to improve the struggling pizza chain, which could lead to a sale under new ownership.
Originally Published 2 months ago — by The Takeout
Denny's is going private after a $620 million deal with private investors, which may help it survive short-term challenges but could lead to cost-cutting and closures in the long run, similar to other restaurant chains like Red Lobster that faced difficulties after private equity buyouts.
Originally Published 2 months ago — by MLive.com
Denny's, the affordable breakfast chain, has been sold for $620 million to a group of investors including TriArtisan Capital Advisors, with plans to take the company private, amid ongoing challenges from changing consumer dining habits and pandemic-related sales declines.
Originally Published 2 months ago — by CNBC
Papa John’s shares dropped 15% after reports that Apollo Global withdrew its $64 per share bid to take the company private, amid broader challenges in the restaurant sector such as sluggish sales and rising costs.
Originally Published 2 months ago — by OregonLive.com
A popular 24-hour diner chain is set to go private in a $620 million deal, marking a significant change in ownership for the well-known breakfast brand.