While fast food chains continue to thrive (unless you count customers complaining about continually soaring prices), sit-down restaurants are struggling. Following financial troubles at Red Lobster, closures at Boston Market, and bankruptcy news from TGI Friday's—and even Hooters—another casual dining favorite is now facing challenges.

Red Robin, which rose to prominence in the late '70s and '80s and is known for its burgers and bottomless fries, recently announced plans to close approximately 70 locations. These plans took shape after a grueling increase in the chain's annual net loss—from $21.2 million in 2023 up to $77.5 million in 2024—coupled with a decrease of $54.5 million in revenue from 2023 to 2024. With these numbers in mind, the company plans to close most of its underperforming locations over the next five years as leases expire. In 2025 alone, Red Robin plans to close between 10 and 15 locations.

At the end of 2024, there were 498 Red Robin locations across the United States. While most locations are company-owned, 91 are owned and operated by franchisees, which, thankfully for fans, will not be affected by the store closings initiated by corporate headquarters.

Though around 15% of Red Robin's restaurants are closing, this doesn't mean it's a sure death to the brand. The forthcoming restaurant closures will allow the company to repay debt and/or invest the money back into the chain. The company isn't counting itself out just yet. Red Robin President & CEO G.J. Hart stated in a press release, "While financial results for 2024 fell well below our original expectations, we've made substantial improvements to the guest experience and believe we still have a significant opportunity ahead of us to reach the full potential of our iconic brand."

Indeed, the restaurant seems to be churning out new menu items to attract both new and returning customers. For this year's March Madness tournament, for example, Red Robin introduced a new menu item: the Buzzer Beater Bacon Cheeseburger, which is available throughout the duration of the tournament.

The chain also teamed up with beloved condiment brand Mike's Hot Honey to release three new additions to its menu—a Hot Honey Crispy Chicken Sandwich, Hot Honey Pepperoni Pizza, and Hot Honey Wings. Customers can "hack the menu" and add hot honey to anything on the menu, including sweet potato fries, burgers, and pretzel bites. "The sweet and spicy combination is exactly the kind of flavor people are craving," said Brian Sullivan, executive chef and VP of Culinary & Beverage Innovation at Red Robin. "Every dish on this menu is packed with flavor that's guaranteed to leave guests buzzing with excitement. This is what the new Red Robin is all about!"

A new Red Robin, huh? Only time will tell if it will withstand the test of the 21st century.