Even before the coronavirus pandemic, the restaurant business was a tough one, with an estimated 60% of new locations closing within a year, and 80% failing within five years.
Even some of the most successful chains can enter a period of decline and fall for any number of reasons, such as long-term mismanagement, failing to adapt to changing public tastes or cutthroat competition from new concepts. Some mighty chains die completely. When was the last time you ate at a Chi-Chi s with about 200 locations once upon a time, Red Barn at about 400 restaurants or a Burger Chef with 1,050 locations?
Some brands, however, survive as much smaller chains or single locations, or they migrate completely out of the United States and establish themselves in another part of the world.