Bloomin' Brands, Inc. announced that in fourth quarter of 2023, the company made the decision to close 36 predominantly older, underperforming restaurants and three U.S. and two international Aussie Grill restaurants. In connection with these closures, the company recognized asset impairments and net closure charges of $32.3 million during fourth quarter of 2023. The company expected to complete these closures during first quarter of 2024 and incur charges of between $8 million and $11 million.
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- Bloomin' Brands, Inc. to Close 36 Predominantly Older, Underperforming Restaurants and Three U.S. and Two International Aussie Grill Restaurants