In a trend of restaurant closures, long-standing establishments like Houlihan’s have been hit hard, representing more than just places to eat. Even major chains have faced closures due to rising costs and debt. Founded in 1972, Houlihan’s once had a strong national presence but now operates just 22 locations nationwide, with several closures in recent years. Despite closures, parent company Landry’s, Inc. has not publicly addressed the shutdowns.

Recent closures include Noblesville, Indiana; Hershey, Pennsylvania; Garland, Texas; Long Island, New York; and Upper Arlington, Ohio. Financial challenges led Houlihan’s parent company, HRI Holding Corp., to file for Chapter 11 bankruptcy in 2019, citing expiring loans and high occupancy costs. Landry’s, Inc. acquired Houlihan’s for $40 million in cash to preserve the brand’s legacy.

The broader restaurant industry is facing challenges with shifting consumer habits, rising costs, and economic uncertainty, leading to closures nationwide. Inflation has played a significant role, with food away from home prices rising 3.7% in 2025. Despite these challenges, real spending at restaurants reached a record annual rate of $1.25 trillion in the second quarter of 2025, showing resilience in the industry.

Read more at Yahoo Finance: 53-year-old restaurant chain is quietly closing locations nationwide