New Jersey’s popular gourmet burger chain to close 70 locations
A well-known gourmet burger chain based in New Jersey is considering closing down 70 of its locations in the coming years due to a decline in revenue, as stated in the company’s fourth-quarter fiscal report.
In 2024, Red Robin reported total revenues of $1.25 billion, which is a decrease of $54.5 million from the previous year. Additionally, the chain faced a net loss of $77.5 million in 2024, a significant jump from the $21.2 million net loss in 2023.
One location of Red Robin already closed down last year as its lease expired, and now the company is planning to shut down approximately 70 underperforming restaurants over the next five years. CEO G.J. Hart mentioned that between 10 to 15 of these restaurants could close their doors in 2025.
Hart expressed optimism about the future of Red Robin, highlighting the progress made by the company in improving traffic trends from the first to the fourth quarter of 2024. While the financial results of 2024 fell short of expectations, efforts to enhance the guest experience have been substantial.
The company’s main focus moving forward will be on bringing back customers to enjoy Red Robin’s unique offerings and improving operational efficiency to drive growth and profitability at both the restaurant and corporate levels. Despite the revenue decline in 2024, Red Robin has seen positive momentum in the early part of 2025.
To attract more customers, Red Robin plans to introduce new menu items and promotions, including limited-time offers and new salad options. These initiatives are aimed at enticing patrons to revisit the restaurants.
Although the specific locations of the closures have not been disclosed, Red Robin has a significant presence in New Jersey with twelve locations scattered across the state. Some of the popular gourmet burger options offered by Red Robin include The Whiskey River BBQ, The Banzai, and The Smashed Avocado n’ Bacon.
The decision to close down possibly 70 Red Robin restaurants is expected to free up funds that can be reinvested in the company or utilized to settle existing debts. The closures are part of a larger strategy to streamline operations and refocus efforts on locations that are more profitable.
Overall, Red Robin remains committed to providing a welcoming atmosphere for guests to dine on delicious food at affordable prices. The company aims to revitalize its brand and continue serving its loyal customers while also attracting new ones in the future.
