Maple Street Biscuit Company is the latest restaurant chain to shutter multiple locations in what continues to be a challenging time for the food service industry.
Cracker Barrel, the parent company of the breakfast joint, shared the news in its latest earnings call, which included details about the company’s fourth quarter financial results and a full-year fiscal update.
Per the earnings report, Cracker Barrel has plans to close 14 Maple Street Biscuit Company locations as the company looks ahead to the 2026 fiscal year.
The company didn’t share a list of the affected locations or a timeline. However, a chart from Cracker Barrel’s earnings report revealed that two company-owned locations were closed in the fourth quarter.
The same chart noted that there were 68 company-owned locations remaining at the end of the fourth quarter.
In a statement to USA Today, Cracker Barrel explained the rationale behind the planned closures, saying, these locations “simply didn’t meet our financial expectations.”
“We appreciate the continued patronage of the many guests who have dined with Maple Street at these 14 locations over recent years and thank our team members for their passionate dedication to Maple Street,” the statement reads.
In 2019, Cracker Barrel acquired Maple Street Biscuit Company for $36 million. At the time, there were 28 company-owned and five franchised restaurants in seven states.
Cracker Barrel Is Hoping To Move On From Recent Customer Backlash
One topic that was top of mind for investors during the earnings call? The backlash Cracker Barrel recently received from customers after the company announced plans to remodel its restaurants with a more modern look.
When Cracker Barrel also debuted its new logo, which removed the familiar “old timer” that fans loved, many people expressed outrage.
In the end, Cracker Barrel listened to customer feedback and scrapped its remodeling plans and new logo.
Cracker Barrel president and chief executive officer Julie Masino addressed the topic in the call, saying, “We thank our guests for sharing their voices and their passion for Cracker Barrel in recent weeks, and we’ve listened, switching back to our ‘Old Timer’ logo, hitting pause on remodels, and placing an even bigger emphasis in the kitchen and other areas that enhance the guest experience.”
