High labor and food costs have severely impacted the restaurant sector, with recent economic setbacks forcing establishments out of business.
The rising cost of beef has been detrimental for U.S. steakhouses leading some popular restaurants to permanently close locations.
An increase in the cost of beef led to steak prices spiking 16% to $12.73 per pound in March 2026, according to data from the Federal Reserve Bank of St. Louis. This affected menu prices and discouraged some diners from dining in steakhouses, reducing restaurant revenue.
Several steakhouses have closed locations in the U.S. over the last three months including Fleming's Prime Steakhouse and Wine Bar, McCormick & Schmick's, Stoney River Steakhouse and Grill, and Quaker Steak & Lube.
And now, iconic dining chain Claim Jumper Steakhouse & Bar closed its 41st restaurant since 2010, as it quietly shut down its San Bernardino, Calif., location on June 23.
The rising cost of beef has been detrimental for U.S. steakhouses leading some popular restaurants to permanently close locations.
An increase in the cost of beef led to steak prices spiking 16% to $12.73 per pound in March 2026, according to data from the Federal Reserve Bank of St. Louis. This affected menu prices and discouraged some diners from dining in steakhouses, reducing restaurant revenue.
Several steakhouses have closed locations in the U.S. over the last three months including Fleming's Prime Steakhouse and Wine Bar, McCormick & Schmick's, Stoney River Steakhouse and Grill, and Quaker Steak & Lube.
And now, iconic dining chain Claim Jumper Steakhouse & Bar closed its 41st restaurant since 2010, as it quietly shut down its San Bernardino, Calif., location on June 23.
1 month ago
