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24/7 Wall St.: America’s Disappearing Restaurant Chains

1. Bennigan’s

Pct. of stores closed: 88.2%
Total stores: 33
Stores closed: 247
2011 sales: $62 million
Pct. decline in sales: -89.0%

In the past 10 years, no major restaurant has lost as much of its business as Bennigan’s. The Irish themed restaurant and bar’s parent company, Metromedia Restaurant Group, filed for bankruptcy in 2008. After declaring bankruptcy, Bennigan’s abruptly shut almost all of its franchises. As of last year, there were just 33 Bennigan’s restaurants and the chain’s sales for the year totaled just $62 million — more than half a billion dollars less than the chain’s 2001 sales. Despite these events, there is some hope for Bennigan’s — and perhaps some of the other chains on this list: a group of investors purchased the company and plans to open new locations. Technomic described one of the group’s new locations in Appleton, Wisconsin, as taking “all the best features of the casual dining restaurant today.”
(AP Photo/Paul Sancya)

More From 24/7 Wall St.:
9 Beers Americans No Longer Drink
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10 Brands That Will Disappear in 2013



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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