10 restaurant chains that closed the most locations last year

Restaurant chains have had a difficult few years between the pandemic, inflation and consumer frustration about prices. That hurt profits and led a number of chains to close locations.

Some have closed more than others, however. Several perpetually struggling brands closed large swaths of restaurants in 2023. Here are the 10 chains that pulled back the most last year, based on percentage of total U.S. unit count, according to data from the Technomic Top 500 Chain Restaurant Report.

The chains had to operate at least 40 locations to be included.

Unit count end of 2023: 30

Percent closures: 14.3%

The Italian chain’s system sales declined 11.4% last year as it closed locations across the country.

Unit count end of 2023: 142

Percent closures: 14.5%

The sandwich chain, which once had nearly 5,000 domestic restaurants, is now down to fewer than 150 restaurants after closing another 14 restaurants last year. Among them: Its first ever restaurant in Denver (pictured).

Unit count end of 2023: 31

Percent closures: 16.2%

The venerable casual dining chain, which operated more than 200 locations 15 years ago, is down to 31 after shuttering six restaurants in 2023.

Unit count end of 2023: 30

Percent closures: 18.9%

The formerly publicly traded seafood chain closed seven restaurants and now operates 30 locations. It operated well over 100 restaurants a decade ago but has steadily closed restaurants since then.

Unit count end of 2023: 233

Percent closures: 20.2%

Another classic casual dining chain, Fridays closed one out of every five restaurants last year. It was just sold to its U.K. franchisee and sold a perpetual CPG license to Kraft/Heinz to pay off bonds.

Unit count end of 2023: 55

Percent closures: 21.4%

The build-your-own burger chain has been shrinking for years and 2023 did not change that. It closed 15 restaurants last year.

Unit count end of 2023: 104

Percent closures: 24.6%

The bakery/café chain closed a quarter of its restaurants last year amid major operational challenges and its bankruptcy. The brand was owned by the same owner as another chain on this list but has since been sold.

Unit count end of 2023: 100

Percent closures: 45%

Another bakery/café chain, Au Bon Pain shuttered nearly half of its restaurants last year. It is down to 45 restaurants.

Unit count end of 2023: 64

Percent closures: 54.9%

Another casual dining chain on this list, O’Charley’s shuttered more than half of its restaurants in 2023. The brand had nearly 250 locations in its heyday.

Unit count end of 2023: 91

Percent closures: 67.5%

Restaurant count in the Boston Market system is something of a moving target these days, as the brand has closed locations over unpaid rent or other issues. But at the end of last year, it operated 91 locations according to Technomic estimates, fewer than the 1,200 it had at peak. It has closed even more locations so far in 2024.