News & Trending Shopping & Deals News

7 Fast-Food Chains Closing Restaurants in 2024 (Is Yours on the List?)

Is your go-to spot at risk of disappearing?

african american woman eating burger
Updated Sept. 24, 2024
Fact checked

We receive compensation from the products and services mentioned in this story, but the opinions are the author's own. Compensation may impact where offers appear. We have not included all available products or offers. Learn more about how we make money and our editorial policies.

Fast food isn't immune to hard times. In 2023, many chains closed locations, and the trend is expected to continue.

Rising costs are squeezing profit margins, and inflation is making it hard to get ahead financially. Many familiar quick-serve chains are facing a tough year in 2024.

Here's a look at some fast-food chains that could be downsizing locations or even disappearing entirely in the coming months.

Earn cash back on everyday purchases with this rare account

Want to earn cash back on your everyday purchases without using a credit card? With the Discover®️ Cashback Debit Checking account (member FDIC), you can earn 1% cash back on up to $3,000 in debit card purchases each month!1

With no credit check to apply and no monthly fees to worry about, you can earn nearly passive income on purchases you’re making anyway — up to an extra $360 a year!

This rare checking account has other great perks too, like access to your paycheck up to 2 days early with Early Pay, no minimum deposit or monthly balance requirements, over 60K fee-free ATMs, and the ability to add cash to your account at Walmart stores nationwide.

Don’t leave money on the table — it only takes minutes to apply and it won’t impact your credit score.

Apply for a Discover Cashback Checking account today

Boston Market

jetcityimage/Adobe boston market fast casual restaurant

Boston Market has been plagued by lawsuits, unpaid bills, and closed restaurants for some time. The chain’s owner, Jay Pandya, has filed for personal bankruptcy twice.

Boston Market had 300 locations at the beginning of 2023. But last year, it closed many locations due to evictions for unpaid bills and government shutdowns for unpaid sales taxes. As of right now, there are just 27 operating Boston Market restaurants.

Unless this company experiences a serious turnaround, 2024 might be the end for Boston Market.

Hardee’s

wolterke/Adobe gigantic hardee's signboard outdoors

Summit Restaurant Holdings, a major franchisee of Hardee’s restaurants, filed Chapter 11 bankruptcy after closing 39 restaurants in 2023.

The spree of closures has continued into 2024, with several Illinois locations closing in January. We will find out whether this is the end of Hardee’s troubles.

Burger King

vulcanus/Adobe germany nuremberg burger king branch

Burger King closed hundreds of stores in 2023. The high number of closures was linked to three different franchisees filing for bankruptcy and many more shuttering unprofitable stores.

However, executives hope this sad chapter in the company's history is behind them. Burger King is reinvesting in more marketing and remodeling stores to the tune of $400 million.

Hopefully, the restaurant chain's rate of closures will slow in 2024, but only time will tell.

Get a protection plan on all your appliances

Did you know if your air conditioner stops working, your homeowner’s insurance won’t cover it? Same with plumbing, electrical issues, appliances, and more.

Whether or not you’re a new homeowner, a home warranty from Choice Home Warranty could pick up the slack where insurance falls short and protect you against surprise expenses. If a covered system in your home breaks, you can call their hotline 24/7 to get it repaired.

For a limited time, you can get your first month free with a Single Payment home warranty plan.

Get a free quote

Krystal

billtster/Adobe krystal burgers outlet from outside

Krystal has been in trouble for some time. The burger chain filed for bankruptcy in 2020. Fortress Investment Group then acquired Krystal and brought it under the SPB Hospitality umbrella.

By the end of 2022, the number of Krystal restaurants had decreased by 21% over the previous five years.

The plan now is to sell corporately owned stores to multi-unit franchise operators and expand Krystal’s footprint. Jack in the Box is using a similar strategy.

White Castle

wolterke/Adobe white castle restaurant from outside

As one of the oldest American burger chains, you might expect White Castle to avoid the woes of newer establishments. But when you get sued for biometric privacy law violations, you’re bound to run into trouble — no matter how good the food is.

White Castle faces a judgment of a staggering $17 billion for scanning employees’ fingerprints without consent. Media reports have speculated that a ruling of this magnitude could jeopardize the long-standing restaurant’s future.

Steak ‘n’ Shake

Kristina Blokhin/Adobe steak n shake sign port richey

In 2018, Steak ‘n’ Shake had 626 locations. That number dwindled to less than 500 as of 2023. This unnerving trend has continued despite increasing sales.

In 2021, Biglari Holdings stepped in just in time to prevent Steak ‘n’ Shake from filing for bankruptcy. The investment group overhauled the brand, switching it from family dining to a counter-serve and drive-thru restaurant.

However, the overhaul slowed down in 2023, with just two restaurants undergoing such a conversion. That change has Steak ‘n’ Shake fans nervous about what the upcoming year will bring.

Bagger Dave’s

romaset/Adobe man eating saucy cheeseburger

Bagger Dave's Burger Tavern has been closing locations since 2015. This company doesn't have the presence of McDonald's or Wendy's, but at one time, it had 26 stores across Michigan, Indiana, and Ohio.

Now, that number is down to six.

In a press release, BT Brands — which owns a 40% stake in the company — announced it would convert the existing restaurants into new concepts later in 2024. The Bagger Dave's as we knew it may be gone for good.

Bottom line

Lumos sp/Adobe father preparing egg for breakfast

Reduced traffic and sales, higher prices, and customers decreasing what they spend on fast food all spell trouble for the fast-food industry in 2024.

The good news is that there are still plenty of thriving chains and local restaurants to enjoy if you want to go out to eat more. Still, nobody likes to see their favorite restaurant disappear.

Lucrative, Flat-Rate Cash Rewards

5.0
info

Wells Fargo Active Cash® Card

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn unlimited 2% cash rewards on purchases

Benefits and Drawbacks
Card Details


Author Details

Jenni Sisson

Jenni Sisson is a freelance writer and editor who focuses on personal finance, real estate, and entrepreneurship. She has been published in Business Insider and The Ways to Wealth. In addition to writing, Jenni hosts the Mama's Money Map podcast to help fellow stay-at-home moms on their journey to financial freedom.