Restaurants & Bars
Red Robin Gourmet Burgers Closes in Danbury Mall
It was one of 10 locations where the Colorado-based grill and bar chain pulled the plug last week.
DANBURY, CT — Red Robin Gourmet Burgers has shuttered its Danbury Fair Mall location. It was one of 10 locations where the Colorado-based grill and bar chain pulled the plug last week, following a dreary earnings call on Thursday.
"As our financial results demonstrate, there is still much work to be done on the turnaround, and I can assure you we are moving with urgency," Red Robin interim CEO Pattye Moore said on the call. The chain's total revenue took dropped nearly 3 percent, crashing to $409.9 million from $421.5 million booked last April.
The loss of the ten restaurants leaves the business with a just over 540 locations in the U.S. Seven of the 10 restaurants targeted for closing are located inside malls, according to trade website Restaurant Business. The mall sites are suffering from consumers' shift to online shopping and watching movies at home instead of traveling to a theater, according to the trade site. Red Robin's mall locations generated a collective loss of $1.9 million on a pretax basis for the first quarter. The shut down of the seven mall sites will leave Red Robin with 66 mall sites.
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