America’s Disappearing Restaurant Chains

10. Blimpie Subs & Salads
> Pct. of stores closed: 60.1%
> Total stores: 739
> Stores closed: 1,114
> 2011 sales: $115.3 million
> Pct. decline in sales: -60.4%

Blimpie first opened in Hoboken, New Jersey, in 1964 as the nation’s first sub-sandwich chain. Although it remains the nation’s third largest such chain, Blimpie has struggled over the last decade. In 2011, Blimpie had just 739 stores and $115 million in sales, down from 1,853 stores and nearly $300 million in sales in 2001. Blimpie was purchased by Kahala, a franchising company that also bought Cold Stone Creamery in 2007.

9. Ponderosa/Bonanza:
> Pct. of stores closed: 63.5%
> Total stores: 175
> Stores closed: 305
> 2011 sales: $241 million
> Pct. decline in sales: -61.7%

Ponderosa and Bonanza are steakhouses that offer “the spirit of the Old West … and honest-to-goodness value.” Like many casual dining franchises, the recession hurt steakhouses’ bottom line. In 2008, the parent company, Metromedia Steakhouses Co., filed for bankruptcy. Although the company, now called Homestyle Dining LLC, exited bankruptcy in October 2009, its steakhouses have largely disappeared. Between 2001 and 2011 the number of Ponderosa and Bonanza restaurants fell by nearly two-thirds.

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8. Big Boy
> Pct. of stores closed: 65.4%
> Total stores: 140
> Stores closed: 265
> 2011 sales: $183.4 million
> Pct. decline in sales: -68.4%

Big Boy, known for its double-decker hamburger and overall-wearing mascot, was opened in Glendale, California, in 1936. The company has struggled since its former franchiser, the Elias Brothers Corp., filed for bankruptcy in 2000. The year after the bankruptcy, there were 405 Big Boy restaurants nationwide. By 2011, there were just 140 restaurants in the U.S. In that time, annual sales at the chain have fallen by almost $400 million, from $580 million in 2001.

7. Don Pablo’s
> Pct. of stores closed: 71.0%
> Total stores: 38
> Stores closed: 93
> 2011 sales: $81.6 million
> Pct. decline in sales: -69.6%

Don Pablo’s describes itself as “Big Tex Bold Mex.” Avado Brands, the company that owned Don Pablo’s, went bankrupt twice in the last 10 years, first in 2004 and again in 2007. In 2008, the chain was sold to a restaurant group started by Avado’s bankruptcy lender. According to Tristano, full-service Mexican restaurants like Don Pablo’s have struggled as fast-casual restaurants such as Chipotle Mexican Grill (NYSE: CMG), have become America’s preferred choice for Mexican cuisine.

6. Tony Roma’s
> Pct. of stores closed: 71.6%
> Total stores: 46
> Stores closed: 116
> 2011 sales: $93 million
> Pct. decline in sales: -70.8%

Tony Roma’s was founded in 1972 and claims to be “the largest casual theme restaurant chain specializing in ribs in the world.” Between 2001 and 2011, Tony Roma’s domestic sales fell by over 70%, while its total number of U.S. restaurants declined from 162 to 46. The chain is struggling partly because, says Tristano, “barbecue is not an everyday food,” and because the cuisine tends to appeal only to males. In 2005, the restaurant’s parent company, Romacorp Inc., filed for bankruptcy. Although it is disappearing from the United States, Tony Roma’s is still active internationally with restaurants in over 30 countries.