72-year-old breakfast diner chain closes iconic location

Classic casual restaurant chains have been closing locations nationwide this year as economic challenges force many out of business.

Iconic bar and grill chain TGI Fridays has been shutting down its restaurant locations, since it filed for Chapter 11 bankruptcy over a year ago on Nov. 4, 2024. The company had 39 corporate-owned locations and 122 franchised locations in the U.S., but the franchise locations did not file for bankruptcy.

The company sold 27 of those remaining locations and closed the other 12 restaurants that it could not sell. The 122 franchised restaurants also struggled, and subsequent closings reduced the number of franchises to 85 by April 2025, then 79 by Nov. 20, 2025.

On The Border closed 40 locations

Popular casual Mexican restaurant chain On The Border Mexican Grill & Cantina filed for Chapter 11 bankruptcy filing on March 4, 2025, with plans to sell its assets to its prepetition bridge loan lender, which is an affiliate of Pappas Restaurants.

On The Border had about 80 locations, with 60 operated by OTB Holding, which was 100% owned by an affiliate of private equity firm Argonne Capital Group and 20 others run by franchisees.

The debtor closed or vacated 40 non-performing stores on Feb. 24, 2025, because of problems with rent and/or financial performance.

Casual restaurant closings

• TGI Fridays: 82 closings since filing for bankruptcy on Nov. 4, 2024.

• On The Border Mexican Grill & Cantina: Closed 40 non-performing stores in February 2025 before filing bankruptcy in March 2025.

And now, popular breakfast diner chain owner, Denny's Corporation, has begun closing locations across the country as part of its plan to shut down 70-90 restaurants this year after closing 88 in 2024, which Restaurant Dive reported earlier this year.

Denny's closes location after over 50 years operating

Denny's, which was established in 1953, earlier in the week of Nov. 24 closed its Santa Rosa, Calif., location across the street from Coddingtown Mall, which had operated for over 50 years, the Santa Rosa Press Democrat reported.

Denny's had already closed locations in Ukiah, Calif., in 2023, and in Napa, Calif., in 2022 in the Northern California region.

The Santa Rosa Denny's location was popular with locals and was featured in the opening montage of the 1975 cult comedy classic "Smile," which starred Bruce Dern, Barbara Feldon, and 17-year-old Melanie Griffith.

The restaurant's closing leaves one remaining Denny's location in Santa Rosa on Baker Avenue.

Denny's selling assets to TriArtisan Capital investor group

The Santa Rosa restaurant closing comes just weeks after Denny's revealed on Nov. 3 that it would go private after it sells its assets to a group led by private equity firm TriArtisan Capital Advisors LLC, alternative asset investor Treville Capital Group, and one of Denny's largest franchisees, Yadav Enterprises Inc., for about $620 million in an all-cash transaction.

The purchase price represented a 52% premium to Denny's closing stock price on Nov. 3, according to a statement. The transaction is expected to close in the first quarter of 2026.

When the sale closes, Denny's common stock will no longer be listed on Nasdaq.

Denny's Corporation buyers

• TriArtisan Capital Advisors LLC

• Treville Capital Group

• Yadav Enterprises Inc.

"We are pleased to enter this transaction, which delivers significant, near-term and certain cash value to our stockholders," Denny's Corporation CEO Kelli Valade said in a statement.

After TriArtisan approached Denny's about a transaction, the dining company reviewed strategic alternatives to maximize value, reached out to over 40 potential buyers, and received several offers.

More closings:

• Major trucking company closes Home Depot distribution facility

• 63-year-old bankrupt retail chain closes all stores permanently

• Discount retail chain closes half its store locations

Denny's Board of Directors determined that TriArtisan's offer maximized value, was fair to and in the best interests of stockholders, the statement said.

Denny's Corporation consists of 1,422 global franchise and licensed Denny's units and 62 company-owned locations. It also operates 52 Keke's brand franchises and 22 corporate-owned Keke's, as of June 25, 2025.

Denny's Corporation restaurants

• Denny's franchise and licensed restaurants: 1,422

• Denny's corporation-owned locations: 62

• Keke's franchises: 52

• Keke's corporation-owned locations: 22

Related: Popular burger chain abruptly shuts down locations nationwide

This story was originally published by TheStreet on Nov 28, 2025, where it first appeared in the Restaurant section. Add TheStreet as a Preferred Source by clicking here.