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Lone Star Closing 30 Units

WICHITA, KS-The steakhouse chain, which operates the Lone Star, Del Frisco, and others, says it will shutter 30 underperforming units…

By Jennifer D. Duell | Updated on March 15, 2006

WICHITA, KS-All the sizzle from Lone Star Steakhouse & Saloon Inc. seems to be gone. The chain reported drops in net income and flat sales for fiscal 2005, prompting the board of directors to outline a store-closure program.

During the next 12 months, the chain, which operates the Lone Star, Del Frisco, Sullivan’s and Texas Land & Cattle brands, will close 30 underperforming units including 13 owned locations and 17 leased locations. The chain currently operates 285 domestic units.

“Overall, 2005 was a disappointing year for the company, especially for the Lone Star brand,” said CEO Jamie B. Coulter during the chain’s earnings call. He explained that the high cost of beef, along with increased operating expenses, impacted the chain’s performance.

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