4 Outdated Steakhouse Chains Making a Comeback In 2024
From tender filet mignon to juicy bone-in ribeyes, Americans absolutely adore their steak—and the proof is in the data. In a 2022 survey conducted by the Chicago meat wholesaler Meats by Linz, 64% of respondents declared that they would eat steak as their last meal if given the option.
Unfortunately, Americans' intense devotion to red meat doesn't guarantee success for every steak restaurant. A number of steakhouse chains have gone out of business over the years due to floundering sales, business fumbles, and other economic challenges. These include beloved brands like Mr. Steak and York Steak House.
Other struggling steakhouse chains, however, have managed to pull themselves back from the brink of ruin and mount a comeback thanks to an overhauled business strategy, new restaurant openings, improved sales, new ownership, or a combination of factors. This is great news for anyone with a special place in their heart for steakhouse chain restaurants since the resurgence means these long-lived brands probably won't disappear anytime soon.
Read on for the four outdated steakhouse chains that are currently making a comeback in 2024!
Steak and Ale
About 16 years after it went bankrupt and shuttered all of its restaurants, Steak and Ale is officially back in business. The retro steakhouse chain opened a highly anticipated new restaurant inside the Wyndham Nicollet Inn in Burnsville, Minn., in mid-July. It serves several contemporary and regional offerings, as well as a plethora of returning options that customers already know and love. The giant salad bar, table-side Caesar salad, Kensington Club, Hawaiian Chicken, Oh Baby Back Ribs, and the 20-ounce "Norman Cut" Herb Roasted Prime Rib are some of the old favorites featured on the menu at the Burnsville restaurant.
Roy Arnold, the CEO of the Kansas-based Endeavor Properties, runs the restaurant's day-to-day operations. Arnold also has a 15-unit agreement in the Midwest with exclusive rights to grow Steak and Ale and two other restaurant brands under the same parent company (Bennigan's and Bennigan's On The Fly) in Kansas, Missouri, Nebraska, North Dakota, Oklahoma, and South Dakota.
"From the moment we announced the launch, my phone has been blowing up and my inbox has been overflowing," Arnold said in a statement on the Burnsville opening. "The media, S&A alumni, and steak lovers alike have been patiently waiting for any news about our reopening and I am thrilled to be able to deliver on their excitement."
Sizzler
Sizzler, a nearly 70-year-old casual dining chain known for its modestly priced hand-cut steaks and beloved salad bar, has been having a rough go of it for some time now. It once boasted more than 700 locations worldwide at the peak of its popularity, but financial woes and an unpopular shift to buffet dining in the early 1990s took a heavy toll on the chain.
It has shuttered hundreds of restaurants since then and currently operates around 70 locations in the United States and Puerto Rico, with California boasting the majority of locations. It has also contended with several bankruptcies, most recently during the COVID-19 pandemic in 2020.
Despite these obstacles, Sizzler has started to show signs of a revival in recent years. The company revealed in 2023 that it was changing its marketing strategy to connect more with customers and reach younger generations who may not have a connection to the Sizzler brand. It has also created a modernized restaurant design complete with sleek digital menu boards, recycled wood accents, and tile flooring. Sizzler plans to remodel all of its remaining locations to match the new prototype and has already been making progress on that ambitious goal.
Golden Corral
Golden Corral is one of the many restaurant chains that saw its fair share of struggles during the COVID-19 pandemic. The 50-year-old buffet chain—which has garnered online acclaim for its made-to-order steaks—experienced a major drop in sales and closed dozens of locations after two of its biggest franchisees filed for bankruptcy. It also had to adjust how it operates to continue serving customers during the pandemic, including installing drive-thrus at its restaurants and offering curbside pickup.
However, things began to look up for Golden Corral in early 2023 as same-store sales skyrocketed by 37%, average sales per unit hit a record high, and some shuttered locations began to reopen. The chain also launched a new fast-casual restaurant chain late last year called Homeward Kitchen and was among the chains that experienced the most organic growth (sales growth excluding gains from new restaurants) throughout 2023, according to Restaurant Business Magazine. So, fans don't need to worry about saying goodbye to the steak-slinging buffet chain anytime soon.
Logan's Roadhouse
Logan's Roadhouse carved out a solid niche for itself in the restaurant industry after making its debut in 1991, eventually expanding to over 200 company-owned locations and dozens of franchised restaurants. However, the steakhouse chain later began to struggle with declining sales and customer traffic, ultimately spurring it to file for Chapter 11 bankruptcy protection and close many of its locations in 2016 as it restructured the business. It currently operates close to 150 restaurants across 22 states.
Luckily for fans, Logan's Roadhouse appears to be in a much healthier position in 2024. The lender Fortress Investment Group acquired the chain in 2020, and Logan's began reopening some of its shuttered locations soon after, FSR Magazine reported. The steakhouse's parent company has also been upgrading its leadership team with experienced restaurant industry veterans. Its financial performance has started to rebound as well.
According to the food and beverage intelligence company Datassential, Logan's grew its systemwide sales by an impressive 13.1% to $471.5 million in 2022. While its sales weren't quite as high in 2023 ($404.1 million), it still remains one of the highest-grossing chains in the United States.
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