O’Charley’s Shuts Down All Corporate-Owned Locations
Casual-dining chain O'Charley's, owned by Cannae Holdings (CANE), has permanently closed all corporate-owned locations. The closures mark the end of a long decline for the brand, which operated nearly 250 restaurants at its peak in the early 2000s but had been steadily reducing its footprint since 2016. In 2023, O'Charley's closed around 17% of locations to preserve cashflow and shift toward a more asset-light model; however, same-store sales continued to fall by double-digits into 2026. Franchised locations remain open for now but are expected to close in the coming weeks. Employees at some franchised sites confirmed tentative closure dates between late September and early October. Cannae Holdings has not commented publicly on the closures, which were reportedly decided during a board meeting that was meant to be kept confidential until Thursday. The decline of O'Charley's reflects broader challenges facing casual dining in recent years. According to Technomic data from 2025, the chain’s portfolio shrank by 11%, and sales dropped by 19%. Cannae Holdings also owns Ninety-Nine Restaurant and Pub, a distillery, as well as several European sports teams.
Topics: Cannae Holdings casual dining industry corporate shutdowns O'Charley's