Popular burger chain Red Robin is considering closing dozens of underperforming locations to help pay off its debt.
The company said in its February earnings release that it was “evaluating alternatives for approximately 70 underperforming restaurant locations, including closure upon expiration of the current lease term.”
Nation’s Restaurant News was the first to report the development.
The president and CEO, G.J. Hart, said the locations would close over the next five years with 10 to 15 of them closing in 2025, USA Today reported.
The company already closed one location when its lease expired and will sell three locations during the first quarter of this fiscal year, according to the earnings release.
A list of targeted locations was not provided in the release.
Red Robin also said it has two priorities for 2025: “bringing guests back into our restaurants for moments of connection over craveable food that only Red Robin can provide and an accelerated effort to gain efficiency in our operations and deliver growth in restaurant and corporate-level profitability while maintaining the improved guest experience that we have developed over the past two years.”
Hart said it will do so through promotions including limited-time offers and new salads.
Red Robin will have a Hot Honey promotion that includes a chicken sandwich, wings and pizza this month, Nation’s Restaurant News reported. It will also continue its Monster Mondays and $10 Cheeseburger Tuesdays.
Red Robin has 498 locations with 407 of them owned by the company and the other 91 owned by franchisees, USA Today reported.
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