Chain restaurants like Applebee's facing closures after major losses in 2020

Applebee's
An Applebee's restaurant serves customers on August 10, 2017 in Chicago, Illinois. DineEquity, the parent company of Applebee's and IHOP, plans to close up to 160 restaurants in the first quarter of 2018. The announcement helped the stock climb more than 4 percent today. Photo credit Scott Olson/Getty Images
By , Audacy

With restaurants struggling throughout the pandemic, many family-owned establishments closed their doors for good, and now some fan-favorite chain restaurants may also soon disappear.

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According to a report from the National Restaurant Association, some neighborhood restaurants will not recover from losses they experienced throughout shutdowns and regulations stopping restaurants from being fully open.

The major chains that will be affected include the following.

Applebees

First opening as the neighborhood spot in 1980, Applebees has slowly seen a decline in sales over the last decade. As a result, the chain has closed more than 120 of its locations and now only has approximately 1,200 locations nationwide.

Diner Brands, the chain's owners, have been trying to get customers back in booths, but Applebees plans on closing another 20 locations this year.

Ruby Tuesdays

What some would call the rival to Applebees, Ruby Tuesdays has also struggled to maintain the same level of sales that they did at the beginning of the decade. With lowering standards, the chain has lost its customers, resulting in 76 locations being closed between 2018 and 2020

The chain owners, NRD Capital, released a statement saying the chain can survive as long as it can "deliver on the basics."

Hooters

Known for their chicken and server outfits, Hooters was a favorite in pop culture, being a running gag in films from Adam Sandler's "Daddy's Home" to TV shows like the U.S. version of "The Office."

Now following the trend of other restaurant chains, Hooters has closed more than 7% of their locations, losing millions of dollars in earnings. In addition, the chain has changed some of its locations to "Hoots," where waitresses are more conservatively dressed.

Old Country Buffet

In 1983, the buffet-style restaurant was a big hit in the 80s and 90s. At one point, there were 700 locations across the country.

The chain has declined dramatically over the last few years as it went through three bankruptcies, several health code violations, and several other locations closing. In the last decade, 400 locations shut their doors for good, and now only 17 are left.

Several other chains, including Quiznos, Buffalo Wild Wings, Subway, CheeseCake Factory, and many others, have also reported closing some of their restaurants following the pandemic and reported losses.

With the current spread of the Delta variant and the possibility of more regulations coming back, there may be even more restaurants closing soon.

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Featured Image Photo Credit: Scott Olson/Getty Images