Bonefish Grill to close 14 restaurants

TAMPA -- The parent company of Bonefish Grill announced that the chain will close 14 of its restaurants around the country, most of them in 2016.

The announcement by Bloomin' Brands came as part of the company's fourth quarter earnings release Thursday.

The company, which also owns Outback Steakhouse, Carrabba's Italian Grill, and other popular restaurant chains, saw a 5.3% drop in fourth quarter revenue in 2015. Bonefish Grill company owned locations saw a 5.4% decrease in same store sales, according to the release.

"Our fourth quarter earnings were in line with expectations and we achieved our earnings objectives for the year,"  said Liz Smith, CEO.

"2015 was highlighted by the strength of our International business and ongoing productivity efforts, which led to 60 basis points of adjusted restaurant margin expansion.  We delivered this result in the face of elevated commodities, wage inflation and foreign currency headwinds.

The company has not announced which locations they will be closing.


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