47-year-old high-end steak and seafood chain closes 80 places

The steakhouse restaurant sector has confronted a serious impression from a rise in beef prices, as steak costs spiked 16% to $12.73 per pound in March 2026, in keeping with knowledge from the Federal Reserve Financial institution of St. Louis, WIBC- Radio reported.

As the worth of beef will increase for eating places, shopper demand for the product has declined as menu costs additionally rise, lowering gross sales at steakhouses.

Diminished gross sales have led sure institutions to shut their companies.

McCormick & Schmick’s location closes

Restaurant chain proprietor Landry’s Inc. closed its high-end McCormick & Schmick’s steak and seafood eating location in downtown Pittsburgh, after it had operated for 18 years, the corporate introduced on Could 26 in a discover on the restaurant’s entrance door, in keeping with KDKA-TV.

“We remorse to tell you that this location has closed,” the message learn.

“We’re grateful for the assist of our neighborhood and encourage our visitors to go to us at our sister places close by!” the discover stated.

The message listed six Landry’s sister eating places close to the closed restaurant: Del Frisco’s, Floor Concourse, Morton’s, Invoice’s Bar & Burger, Houlihan’s, and Mitchell’s Fish Market.

Landry’s didn’t reveal a purpose for closing the downtown Pittsburgh McCormick & Schmick’s location.

“After a few years serving the downtown Pittsburgh neighborhood, McCormick & Schmick’s on Fifth Avenue has made the troublesome choice to shut its doorways,” Shah Ghani, the corporate’s chief working officer, stated in an announcement to KDKA.

“We’re extremely grateful to our loyal visitors and devoted workforce members for permitting us to be a part of so many celebrations, traditions, and memorable moments through the years, Ghani stated.

The corporate is transitioning workers to close by sister places, he stated.

Chain had 94 eating places

Founders Invoice McCormick and Douglas Schmick owned about 94 eating places on the firm’s peak in 2009, together with principally McCormick & Schmick’s places, in addition to Jake’s Well-known Crawfish, M&S Grill, McCormick & Kuleto’s, William Douglas Steakhouse, and The Boathouse, in keeping with The Oregonian.

The corporate opened the town’s first McCormick & Schmick’s at SouthSide Works in 2005, adopted by the downtown Pittsburgh location in 2008. The corporate closed the SouthSide location in 2021, in keeping with KDKA.

McCormick & Schmick’s slashes 80 shops

McCormick & Schmick’s has closed about 80 places since its peak and presently operates 14 places in 11 states, plus M&S Catering on the Museum of Flight in Seattle.

Landry’s traces McCormick & Schmick’s roots to 1974, in keeping with its web site, earlier than Invoice McCormick bought Jake’s Well-known Crawfish in 1975 and created the partnership chain with Douglas Schmick in 1979.

McCormick & Schmick’s bought the chain to Landry’s in November 2011 for $131.6 million, The Oregonian reported.

Different high-end steakhouse chains have additionally been compelled to shut places due to rising meals prices and declining shopper demand.

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Different steakhouses shut places

Excessive-end eating chain Stoney River Steakhouse and Grill stated it’ll shut its Towson, Md., restaurant location by June 26, 2026, and lay off 68 workers, in keeping with a Employee Adjustment and Retraining Notification discover that the corporate filed with the Maryland Division of Labor on April 20.

“After shut analysis of the market, now we have made the troublesome choice to shut the Towson location,” Chris Conlon, govt vice chairman of operations at proprietor SPB Hospitality, stated in an announcement, in keeping with The Baltimore Banner. “Workers have been provided numerous alternatives, together with the choice to switch to close by places.”

Stoney River Steakhouse and Grill operates 14 eating places in 9 states, together with Alabama, Georgia, Illinois, Kentucky, Maryland, Michigan, Missouri, North Carolina, and Tennessee.

One other high-end steakhouse chain, 801 Chophouse, whose father or mother filed for chapter safety on April 10, closed an affiliate restaurant in Minneapolis, 801 Nicollet, which had beforehand operated below one other identify, 801 Fish.

Father or mother 801 Restaurant Group LLC owns eight 801 Chophouse places in Denver; Des Moines, Iowa; Kansas Metropolis and St. Louis, Mo.; Leawood, Kan.; Minneapolis; Omaha, Neb.; and Tysons Nook, Va.

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This story was initially printed by TheStreet on Could 28, 2026, the place it first appeared within the Eating places part. Add TheStreet as a Most well-liked Supply by clicking right here.