Two Birmingham Outback Locations Permanently Closed
Two Outback Steakhouse restaurants in Birmingham, Alabama, have closed indefinitely. The locations on 20th Street South and Inverness on Highway 280 are no longer operating.
Company’s National Turnaround Plan
These closures are part of Bloomin’ Brands' national strategy, announced in their recent fiscal earnings report. The parent company of Outback Steakhouse revealed plans to shut down 21 locations across the United States.
CEO Mike Spanos stated, “I am excited to announce our turnaround strategy, with a focus on the Outback Steakhouse brand.”
The company intends to reallocate free cash flow toward strategic investments in existing operations and reduce debt to enhance long-term profitability.
Mike Spanos said they believe the plan will drive “long-term sustainable and profitable growth.”
Lease Non-Renewals Affect Additional Locations
Besides the closures, Bloomin’ Brands will not renew leases on 22 other Outback Steakhouse restaurants. These leases are set to expire over the next four years.
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Summary: Outback Steakhouse is closing 21 locations and not renewing 22 leases nationwide as part of Bloomin’ Brands' strategy to focus on sustainable growth and debt reduction.
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