A BELOVED BBQ joint is getting closer to shutting down nine locations, with only a handful set to remain.
The chain is inching closer to a full shutdown, and the ones still standing will likely be converted into another major brand’s format.
GettyA beloved BBQ joint is getting closer to shutting down nine locations, with only a handful set to remain[/caption]Smokey Bones BBQ has announced that it is set to reduce its already small footprint in the US.
The TGI Friday’s rival is planning to close nine locations this year, which will take its total store count to just 45.
At its peak, Smokey Bones had more than 130 locations across the US, but has struggled since it was acquired by Twin Peaks in 2021.
On top of the nine closures, Smokey Bones is expected to lose even more locations in the coming years.
It is expected that more sites will be converted into Twin Peaks locations.
A spokespserson told the Daily Mail: “We still plan to convert about half of Smokey Bones’ locations to Twin Peaks over the next several years.
“We will then keep 20 or so locations as Smokey Bones with nine locations closing due to factors such as the lease expiring or the trade area.
“As we have shared previously, we are committed to growing Smokey Bones and see great potential for the brand as the only BBQ concept in our portfolio.
“Our first priority is completing the conversions and then we will execute on our growth strategy.”
TROUBLED HISTORY
Smokey Bones has only been around since 1999, but has suffered a troubled history.
In its short life, it has undergone many owners, including to Barbeque Integrated, Inc., which is affiliated with Sun Capital Partners, Inc.
But Sun Capital Partners, Inc. eventually became unstable due to its other brands that were struggling, including Friendly’s and Bar Louie’s.
Smokey Bones was then sold to Fat Brands for $30 million in 2023.
But even if Fat Brands has a way out via the Twin Peaks conversion plan, that brand isn’t doing too well either.
US braces for '45,000 store closures'
Some 45,000 bricks-and-mortar stores could close in the next five years, experts have warned.
Several major retailers have announced store closures or gone out of business altogether in recent years.
In 2023, chains such as Foot Locker announced plans to close up to 400 outlets by 2026.
While, other well-known retailers like Tuesday Morning and Mitchell Gold + Bob Williams filed for bankruptcy in 2023.
Bed Bath & Beyond has closed all of its brick-and-mortar stores and is now an online-only retailer.
The most affected retailers have been clothing, consumer electronics, sporting goods, hobby, book, music, and home furnishing stores since the start of 2019.
UBS has predicted the total number of retail stores will drop by 45k from 958k to 913k.
Despite that, the report says that certain stores should thrive while others decline.
It said retailers such as Walmart, Costco, Home Depot, and Target, could be among the winners.
Earlier this month, Twin Peaks abruptly announced that it was closing its last location in California.
The spot had been in Sacramento for nearly a decade, and left without warning.
The announcement post on social media said: “To our fans, we thank you for nearly 10 years of joining us for the “food, fun, cold beer & sports”.
“It’s with a heavy heart that we must share that Twin Peaks Sacramento is now permanently closed.
“Thank you and be well.”
It is still not known why the location was shut, but it left many disappointed fans behind.
One person said online: “Just like that? Not even a final celebration.”
And another cried: “I don’t wanna find a new football spot!”
GettyAt its peak, Smokey Bones had more than 130 locations across the US, but has struggled since it was acquired by Twin Peaks in 2021[/caption] Read More Details
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