Customers Are Now Warned As A Massive Restaurant Closes

March 7, 2024

Customers are now warned as a massive restaurant closes 41 locations nationwide, affecting several open gift cards.

Outback Steakhouse customers with gift cards have been told get a refund if their local restaurants are closing.

The parent company is shuttering 41 locations nationwide – leaving some states without an Outback at all, reports The-Sun.

If you have an Outback gift card, but your local restaurants are all closing, you could get a refund.

The Department of Commerce, and Consumer Affairs Office of Consumer Protection in Hawaii, where all restaurants recently shut down, has told customers to act fast.

Executive Director Mana Moriarty told Hawaii News Now: “An important guideline with gift cards is to use them as soon as you can, because if a store closes or goes bankrupt, there may be little to no recourse for a consumer to recover an unspent balance.

“There is presently no time limit for affected consumers to seek a refund, but anyone holding these gift cards is strongly encouraged to promptly pursue their claims.”

Hawaii is just one state that now has zero Outback restaurants remaining after three closures last month.

The parent company, Bloomin’ Brands, is in the process of closing 41 locations nationwide across several banners.

To get a refund, you should contact Bloomin’ Brands via email at GiftCardTeam@BloominBrands.com.

In your message, include the front and back images of the gift cards, along with your full name and complete mailing address.

You can also loop in an investigator with your state’s Office of Consumer Protection in the email, reports The-Sun.

However, if you will still have a local Outback restaurant after the closures, your request for a refund is unlikely to be approved.

The 41 restaurants Bloomin’ Brands is closing are not just Outback locations.

The closures will affect other chains including Carrabba’s Italian Grill, Fleming’s Prime Steakhouse, Bonefish Grill, and Aussie Grill.

CEO of the restaurant group, David Deno, told investors last week that the company had decided to close its “predominantly older, underperforming restaurants.”

Most of these locations were “older assets with leases from the 90s and early 2000s,” he said.

Hawaii is not the only state that has been left without an Outback.

The chain also closed down its final location in New Hampshire last month.

For more news and updates like this, opt-in for push notifications.

Also Read: Clothing Retailer Now Makes Painful Decision To Close All Stores

Other Economy News Today

A leading manufacturer now declares an unexpected bankruptcy after partnering with a Chinese company, sources report.

The manufacturer, which opened in 2013, has been a pioneer in the LED lighting space.

And, while Rohinni may not be a household name, it has been a leader in its space, reports TheStreet.

The company’s mission led to a 2019 partnership with BOE, a Chinese company that called itself “a global leader in semiconductor display industry as well as an IoT company providing intelligent interface products and professional services for information interaction and human health,” according to its website.

It was a deal that was supposed to help Rohinni grow, which may have led to its downfall, says the outlet.

“This joint venture will bring Rohinni’s market-ready technology which is three to five times quicker than traditional pick-and-place processes, capable of placing 50 die-per-second (dps) with 10 micron accuracy at 99.999% die yields to consumer products,” the companies shared in a press release.

However, that proved to be the wrong bet for Rohinni as demand tailed off quickly in China, where the company was required by the terms of the deal, to do most of its business.

The company filed for Chapter 7 liquidation with the Eastern District Court of Washington.

The company reported a whopping 96% drop in revenue in 2023, according to the court filings.

After its abrupt closure, Rohinni reported $5 million in liabilities and $40.4 million in assets, which sounds like a company that should still be solvent.

Unfortunately, many of their assets are tied to exclusive-use agreements with a Chinese joint venture company.

The bankruptcy court will have to decide what happens to the over 100 patents the company holds, many of them jointly with BOE.

Rohinni’s deal with its Chinese partner limited its ability to sell off some of its assets to raise cash.

For more news and updates like this, opt-in for push notifications.

Also Read: This Popular Mall Retailer Is Now Closing 150 Stores

Market News Published Daily 📰

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰