Which Restaurant Chains Are Closing In 2024. Five months into 2024, national chains like red lobster, chili's, and outback steakhouse are closing locations across the country to account for profit losses within their businesses. Several perpetually struggling brands closed large swaths of restaurants in 2023.

With this in mind, your favorite restaurant chain may look a little bit different in the coming months—or it could be gone for good. The first half of 2024 was incredibly challenging for the restaurant industry, which continues to face rising labor and operating costs and declines in traffic.