47-year-old high-end steak and seafood chain closes 80 places

The steakhouse restaurant sector has confronted a serious affect from a rise in beef prices, as steak costs spiked 16% to $12.73 per pound in March 2026, based on information from the Federal Reserve Financial institution of St. Louis, WIBC- Radio reported.

As the worth of beef will increase for eating places, client demand for the product has declined as menu costs additionally rise, decreasing gross sales at steakhouses.

Decreased gross sales have led sure institutions to shut their companies.

McCormick & Schmick’s location closes

Restaurant chain proprietor Landry’s Inc. closed its high-end McCormick & Schmick’s steak and seafood eating location in downtown Pittsburgh, after it had operated for 18 years, the corporate introduced on Might 26 in a discover on the restaurant’s entrance door, based on KDKA-TV.

“We remorse to tell you that this location has closed,” the message learn.

“We’re grateful for the assist of our neighborhood and encourage our company to go to us at our sister places close by!” the discover stated.

The message listed six Landry’s sister eating places close to the closed restaurant: Del Frisco’s, Floor Concourse, Morton’s, Invoice’s Bar & Burger, Houlihan’s, and Mitchell’s Fish Market.

Landry’s didn’t reveal a motive for closing the downtown Pittsburgh McCormick & Schmick’s location.

“After a few years serving the downtown Pittsburgh neighborhood, McCormick & Schmick’s on Fifth Avenue has made the troublesome determination to shut its doorways,” Shah Ghani, the corporate’s chief working officer, stated in a press release to KDKA.

“We’re extremely grateful to our loyal company and devoted workforce members for permitting us to be a part of so many celebrations, traditions, and memorable moments through the years, Ghani stated.

The corporate is transitioning workers to close by sister places, he stated.

Chain had 94 eating places

Founders Invoice McCormick and Douglas Schmick owned about 94 eating places on the firm’s peak in 2009, together with principally McCormick & Schmick’s places, in addition to Jake’s Well-known Crawfish, M&S Grill, McCormick & Kuleto’s, William Douglas Steakhouse, and The Boathouse, based on The Oregonian.

The corporate opened the town’s first McCormick & Schmick’s at SouthSide Works in 2005, adopted by the downtown Pittsburgh location in 2008. The corporate closed the SouthSide location in 2021, based on KDKA.

McCormick & Schmick’s slashes 80 shops

McCormick & Schmick’s has closed about 80 places since its peak and presently operates 14 places in 11 states, plus M&S Catering on the Museum of Flight in Seattle.

Landry’s traces McCormick & Schmick’s roots to 1974, based on its web site, earlier than Invoice McCormick bought Jake’s Well-known Crawfish in 1975 and created the partnership chain with Douglas Schmick in 1979.

McCormick & Schmick’s offered the chain to Landry’s in November 2011 for $131.6 million, The Oregonian reported.

Different high-end steakhouse chains have additionally been compelled to shut places due to rising meals prices and declining client demand.

Associated: Burger chain franchisee in chapter is liquidating 49 shops

Different steakhouses shut places

Excessive-end eating chain Stoney River Steakhouse and Grill stated it would shut its Towson, Md., restaurant location by June 26, 2026, and lay off 68 workers, based on a Employee Adjustment and Retraining Notification discover that the corporate filed with the Maryland Division of Labor on April 20.

“After shut analysis of the market, we now have made the troublesome determination to shut the Towson location,” Chris Conlon, govt vice chairman of operations at proprietor SPB Hospitality, stated in a press release, based on The Baltimore Banner. “Workers have been supplied varied alternatives, together with the choice to switch to close by places.”

Stoney River Steakhouse and Grill operates 14 eating places in 9 states, together with Alabama, Georgia, Illinois, Kentucky, Maryland, Michigan, Missouri, North Carolina, and Tennessee.

One other high-end steakhouse chain, 801 Chophouse, whose dad or mum filed for chapter safety on April 10, closed an affiliate restaurant in Minneapolis, 801 Nicollet, which had beforehand operated beneath one other title, 801 Fish.

Guardian 801 Restaurant Group LLC owns eight 801 Chophouse places in Denver; Des Moines, Iowa; Kansas Metropolis and St. Louis, Mo.; Leawood, Kan.; Minneapolis; Omaha, Neb.; and Tysons Nook, Va.

Associated: Beloved Thai restaurant chain information Chapter 11 chapter

This story was initially revealed by TheStreet on Might 28, 2026, the place it first appeared within the Eating places part. Add TheStreet as a Most well-liked Supply by clicking right here.