Outback Steakhouse Closes Multiple Locations as Part of Turnaround Strategy
Outback Steakhouse, a well-known steakhouse chain with over three decades in business, is closing multiple locations across the U.S. as part of its multi-year turnaround strategy initiated by parent company Bloomin' Brands. The closures are attributed to rising beef prices and underperforming sites that lack growth potential. Recent closures include an Evansville, Wyoming location closed on August 23, 2026, and a Baltimore restaurant set for closure in October 2026. Bloomin’ Brands has been actively restructuring its portfolio by closing unprofitable locations while opening new ones to improve financial performance. In the second quarter of 2026 alone, nine restaurants were closed—four company-owned and five franchised—with five openings recorded. The chain’s CEO expressed satisfaction with progress on this strategy. Outback Steakhouse currently operates over 660 locations in 44 U.S. states but is streamlining operations to focus only on high-performing sites.
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Topics: beef prices Bloomin' Brands franchise closures Outback Steakhouse