Applebee's
If Applebee's closes, where will the public get their dollar margaritas? The restaurant attempted to cater to millennials by adding tablets and WiFi to every table, but the move backfired. Long-time, older customers were put off by the change and slowly began to spend their money elsewhere.
The Cheesecake Factory
The Cheesecake Factory was founded as a bakery in Los Angeles, California 48 years ago, and became a restaurant in 1978. In 2020, Fortune ranked The Cheesecake Factory as the twelfth best company to work for on their Top 100 list based on employee satisfaction. However, in March 2020, the chairman and CEO David Overton announced that none of the 294 locations would be able to pay its rent for April, and 27 locations closed its doors. Since the announcement, its stock has plummeted by more than 50%.