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International Business Times UK
International Business Times UK
Mycah Puno

Is Outback Steakhouse Filing for Bankruptcy? 21 Stores Closed since October

Outback Steakhouse Outback United States Mike Spanos Bloomin Brands Bloomin Brands Inc Texas Roadhouse Chili LinkedIn
Outback Steakhouse faces financial pressure amid multi-million dollar overhaul. (Credit: Facebook/Outback Steakhouse - National)

KEY POINTS

  • Outback Steakhouse's parent company closed 21 restaurants and suspended dividends amid restructuring
  • Bloomin' Brands is investing $75 million to revitalise Outback through menu and service improvements
  • The company denies bankruptcy rumours, focusing instead on long-term consolidation and growth recovery

Outback Steakhouse is entering a critical phase in its corporate restructuring after parent company Bloomin' Brands Inc. confirmed the closure of 21 restaurants in October as part of a broader financial recovery strategy.

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