Casual dining chain O’Charley’s has shuttered its remaining 49 company-owned restaurants in the country, according to several reports.

The 55-year-old chain once had 250 locations at its peak. Along with the closures, its website and social media accounts are no longer available.

Cannae Holdings, which acquired a controlling stake in the chain in 2018, has been carrying out a strategic review over the past months.

In February, Cannae’s CEO Ryan Caswell said that the company would concentrate its portfolio on sports and entertainment-related businesses after its restaurant division recorded heavy losses.

Financial reports show that O’Charley’s recorded a 13 per cent drop in same-store sales in its latest quarter, driven by falling traffic.

As of the end of the second quarter, the chain had 49 company-owned and three franchised locations across 13 states in the Midwest and South. 

In 2023, O’Charley’s closed over 50 restaurants, citing that they had “long-term and immediate problems” tied to shifting demographics.  

• Further reading: Wendy’s to close hundreds of US stores as part of turnaround.