Red Robin shuts down 10 restaurants

[giantsfan2016]

Red Robin has shuttered 10 under performing restaurants. 2 of them were in Connecticut - at the Danbury Fair Mall and the other in Milford at the Connecticut Post Mall.

https://www.nbcconnecticut.com/news/local/Red-Robin-Closes-Restaurants-in-Danbury-Milford-510812661.html

[retailisking]

Red Robin has shuttered 10 under performing restaurants. 2 of them were in Connecticut - at the Danbury Fair Mall and the other in Milford at the Connecticut Post Mall.

https://www.nbcconnecticut.com/news/local/Red-Robin-Closes-Restaurants-in-Danbury-Milford-510812661.html

The company is operating with an acting CEO. Sales and traffic are both down as staffing cuts intended to boost the bottom line backfired, resulting in poor service. Seven of the ten locations to close are inside malls, which as we know are suffering with loss of traffic themselves. It appears that RR is looking to reduce their exposure to mall-based locations, where 66 of their restaurants are situated.
https://www.restaurantbusinessonline.com/topics/red-robin-closes-stores-traffic-continues-slide

They're also fighting off an activist investor with a so-called "poison pill"
https://www.restaurantbusinessonline.com/financing/struggling-red-robin-swallows-poison-pill