Robert Thompson has resigned as CEO of Punch Bowl Social, the food-and-entertainment concept he founded eight years ago, to form an innovation lab for developing products aimed at millennials and Gen Zers. His resignation is the latest twist for a venture formerly hailed as one of the restaurant industry’s hottest concepts. Thompson had successfully pitched… read more

Famed chef and restaurateur Thomas Keller on Wednesday announced that one of his newest restaurants is closing permanently because of “irreparable damage” from the pandemic: TAK Room in New York City’s Hudson Yards complex. His Thomas Keller Restaurant Group is also shuttering a location of Bouchon Bakery that was also in the sprawling 18 million-square… read more

Red Robin Gourmet Burgers reported a net loss of $56.3 million for the second quarter, a plunge the casual-dining company said was driven by multiple operational shifts tied to the COVID-19 pandemic. Same-store sales decreased 41.4% for the quarter, driven by a 38.5% decrease in guest traffic and  a 2.9% decrease in average check. The latter… read more

Despite the ongoing pandemic, consumers are warming more to the notion of dining out — something they yearn to do more — but more than two-thirds say they still prefer cooking and eating at home out of concern about exposure to coronavirus, according to new research by global consulting firm AlixPartners. Adam Werner, AlixPartners managing… read more

As the restaurant industry attempts to slowly recover from the wide-ranging effects of the ongoing coronavirus pandemic, AS\\according to S&P Global Market Intelligence the odds that a restaurant will default on its debt fell to 10% in July from 35% in April. For larger chains, performance and financial stability is almost where it was a year… read more

With the pandemic showing little sign of letting up, consumers — perhaps, families most especially — are seriously missing being able to partake in the simple pleasure of having someone else cook, serve and clean up dinner. Now that many states have reopened, restaurant operators hoping to tap into that pent-up demand are hustling to… read more

Brinker International, Inc. has signed a letter of intent to acquire 116 Chili’s Grill & Bar restaurants from ERJ Dining. Louisville, Ky.-based ERJ Dining has been a franchisee of Brinker’s for the past 14 years. According to Brinker, the Chili’s restaurants primarily are located in the Midwest and generate approximately $300 million in annualized revenue…. read more

FAT (Fresh. Authentic. Tasty.) Brands announced plans to acquire the Johnny Rockets fast-casual burger chain from an affiliate of private equity firm Sun Capital Partners Inc. for $25 million. FAT Brands is a global franchising company that acquires, markets and develops fast-casual and casual dining restaurant concepts around the world. Johnny Rockets was founded in… read more

When McDonald’s Corp. fired Stephen Easterbrook, then chief executive officer, he received a severance package valued at nearly $42 million, according to executive compensation experts at Equilar. Now, the company is suing Mr. Easterbrook for the return of the money and a lot more after an investigation found he’d had sexual relationships with at least… read more

McDonald’s Corp. executives believe the worst impacts of the pandemic on sales performance are in the past. In the latest quarter, the restaurant company’s net income dropped 68% and revenues plummeted 30%, driven by temporary restaurant closings, limited operations and dramatic changes in consumer behavior. “As you can see, it remains a dynamic situation as… read more