Outback Steakhouse closes 21 locations, plans 22 more by 2030

15 June 2026 · Source balance: Centre

Outback Steakhouse, owned by Bloomin' Brands, has closed 21 underperforming restaurants in 2025 and announced plans not to renew leases at 22 additional locations over the next four years. The chain is among several steakhouse companies struggling with rising costs and shifting consumer spending habits. Americans facing cost pressures elsewhere in their budgets are dining out less frequently and being more selective about where they eat. The casual dining sector faces headwinds, with nine percent of full-service restaurants at risk for closure this year. Outback is implementing a turnaround strategy that includes revamping menus, emphasizing value, improving service, and closing weaker locations to focus resources on healthier restaurants. The company says these efforts are already showing positive results in customer satisfaction scores. Industry analysts note that some competitors like Texas Roadhouse and Applebee's have performed better during this period.