Red Robin views the closure of 70 places against the background of financial troubles

Red Robin-Naughty in increasing quantity of fast food snacks that plan to plan Place of insufficient results After a number of financial difficulties.

The network on Wednesday announced that after the expiration of their rent, it plans to close 70 seats as it is trying to turn its activity. The company has already closed one place in the fourth quarter of fiscal 2024 and recorded a loss of $ 32.4 million in the quarter to a large extent from the “inspection of insufficient restaurants”.

The company plans to sell three facilities during the first quarter of financial 2025. The sale of these places is expected to receive $ 5.8 million, which are believed to be partially used to repay the debt.

The main director believes

While the financial results for the financial 2024 financial results are “much lower” by the company’s initial expectations, the CEO of GJ Hart said the company made “significant improvements in the guest experience” to try to return the traffic to its restaurants.

The Red Robin network has more than 500 seats in America. ( / Istock)

During the income call last week, Hart told analysts that the company saw an improvement in the trends of 600 basic points from the first quarter of the year to the fourth.

But “while our improvement was significant, we have not yet reached the potential of our iconic brand and hoped for further improvement of traffic in 2025,” he continued.

Hooters looking at the possible bankruptcy submission

The Red Robin story is not unique. There’s an increasing number of burials that fought after the accumulation of too much debt during the pandemic.

The industry expected the consumer expenses in the restaurants to return to the pandemic levels when everything would come back to normal. But Sector Sector Service They began to deal with the slowdown in the quarter of the back as consumers who still still continued to eat at home.

Red Robin restaurant in San Khase, California. (Nicholas McCober / Getti Image)

Some companies, such as TGI on Friday, Danny, Ruby on Tuesday, Rubio Coastal and Rubio Omar, have filed a bankruptcy court. However, others, including those who did not provide bankruptcy, have significantly reduced their mark to better position themselves in modern conditions.

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For example, Wendy announced in November what it was Closing 140 places that don’t work By the end of 2024, it is supposed to improve your “restaurant and overall health”.