In the past 10 years, some of America’s biggest food chains have lost more than 50% of their sales as they closed hundreds of locations nationwide.
These restaurants, which include former American staples such as Big Boy, Ponderosa and Bennigan’s, have not been able to maintain a steady crowd. They have failed to update their brand or menu options. As a result locations have been closed in favor of a new generation of eateries. Based on data provided by food industry consulting and research firm Technomic Inc., 24/7 Wall St. reviewed the 10 large restaurant chains with the biggest decline in locations and sales between 2001 and 2011.
Based on sales data provided By Technomic, 24/7 Wall St. reviewed the 10 restaurant chains that had 60% or greater declines in the number of actual store locations operating from 2001 to 2011. In order to identify the chains that were once the biggest, restaurants had to have sales of at least $225 million in 2001 and experience 50% or greater declines in sales over the same period.
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