In recent times, there’s been a whisper echoing through American towns, diner tables, and social media platforms. That is, ‘Is Cracker Barrel going out of business?’
For many, Cracker Barrel isn’t just a restaurant; it’s a symbol of family gatherings, Sunday brunches, and a reliable respite on long road trips. It’s where the aroma of homestyle cooking greets you, and the old-world charm of the country store takes you on a nostalgic journey.
With the recent closures of some of Cracker Barrel locations, people are left wondering about the future of this iconic brand. But is Cracker Barrel going out of business really? Or is this just a rumor that should be taken with a pinch of salt? Keep reading to discover the truth!
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A Closer Look at Cracker Barrel
Cracker Barrel is more than just a restaurant – it’s an American institution. Founded by Dan Evins in Tennessee, Cracker Barrel was initially an answer to the needs of travelers. Evins’ vision was unique: creating a space similar to an old country store from his childhood, a place where travelers could rest, eat, and shop under one roof.
Over the years, Cracker Barrel has preserved this essence. Patrons are greeted not only by the smell of fried chicken, meatloaf, and their famed breakfasts but also by the eclectic offerings of their country store, which boasts holiday decorations, apparel, candies, toys, and so much more.
With its unique offering and commitment to the diner’s experience, Cracker Barrel has established itself as a beloved brand for both locals and travelers across America’s interstate highways. Cracker Barrel is not just a place to fill one’s belly, but also one’s soul.
Is Cracker Barrel Going Out of Business?
Contrary to the circulating rumors, Cracker Barrel is not going out of business. While there have been concerns stemming from recent store closures, especially in specific areas like Portland, Oregon, Cracker Barrel as a brand is not shuttering its doors nationwide.
In the turbulent times of the pandemic, many businesses, including restaurant chains, faced challenges, and Cracker Barrel was no exception. However, it’s essential to differentiate between strategic location closures and the company going out of business entirely.
The latter is far from the current reality for Cracker Barrel. With over 660 active stores across the U.S. and recent revenue growth, the beloved country store and restaurant doesn’t look like one that will be shutting its doors soon!
So, is Cracker Barrel going out of business? The answer is no!
Where Did the Rumor Come from?
In today’s digital age, information, whether accurate or not, spreads at lightning speed. The unsettling rumor regarding Cracker Barrel’s purported closure seemed to have originated from misleading online content.
Specifically, a clickbait headline exclaimed, “Saying Goodbye: Stores Closing in 2021 Across the Nation,” and it was cleverly positioned above a picture of a Cracker Barrel establishment.
Those enticed to click found that the article’s content did not mention Cracker Barrel in its list of closures, but the implication was already planted in the readers’ minds.
Furthermore, past controversies involving Cracker Barrel might have given credence to these rumors. The brand has faced legal challenges over allegations of discrimination, which might have led some to believe it was struggling more than it actually was. But right now, the good news is that Cracker Barrel is not going out of business.
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Why Is Cracker Barrel Closing Stores?
While the chain isn’t shutting down universally, it has, indeed, closed some stores – notably in the Portland area. The primary reason given is the impact of the COVID-19 pandemic. Cracker Barrel already issues statements concerning this. And in their statements, they expressed their sadness at these closures and gratitude to their guests and employees affected.
What Other Restaurant Chains Are Closing Stores?
Cracker Barrel isn’t alone in facing challenges. Chains such as Applebee’s, Hardee’s, Steak ‘n Shake, and IHOP, among others, have also announced closures. Factors like labor shortages, high food costs, and pandemic-triggered downturns have hit the restaurant industry hard.
Is Cracker Barrel Facing Financial Challenges?
Many people are actually asking, Is Cracker Barrel going out of business?’ because they assume the brand is facing some financial challenges.
Well, every business has had its trials and tribulations during the pandemic. However, with a year-over-year revenue growth of over 11% and total revenue of $862.26 million, Cracker Barrel’s financial health seems intact. The brand is presently not facing any financial issues that we know of.
FAQs
Who Owns Cracker Barrel Company?
Cracker Barrel is owned by Cracker Barrel Old Country Store, Inc., a publicly-traded company. Many people have believed that the company is probably owned by another mother company entirely. But that is not the case.
How Did Cracker Barrel Start?
Cracker Barrel was founded by Dan Evins in 1969. While working in his family’s gasoline business in the 1960s, Evins came up with the idea to better cater to travelers, blending an old country store with a restaurant. And that was what led to the birth of Cracker Barrel.
Is Cracker Barrel all Over the US?
Yes, the brand operates in about 45 states in the U.S., with over 660 locations as of 2023. Even though the brand suffered recent closure of some of its stores, it is still far from finally going out of business.
What is Cracker Barrel’s Net Worth?
What usually determines how much a company is worth is its market capitalization. This can also be the current stock price of the company multiplied by the number of shares outstanding.
In the case of Cracker Barrel, the company is presently worth $1.66 billion. That is indeed a whooping sum of money for any restaurant chain.
Can I Buy a Cracker Barrel Franchise?
No, you cannot buy a Cracker Barrel franchise because the company does not offer franchising opportunities. Every of their location is company-owned and operated.
Who is Cracker Barrel’s Biggest Competitor?
Cracker Barrel faces competition from several restaurant chains. Some of the primary competitors include Jack in the Box, Cheesecake Factory, Brinker International, Denny’s, and Dave & Buster’s Entertainment, among others.
What City has the Most Cracker Barrels?
San Antonio, Texas, boasts the highest number of Cracker Barrel locations within a single city, with five establishments in operation.
Is Cracker Barrel Going Out of Business – Final Note
In essence, while Cracker Barrel has had to make the tough decision to close certain stores, it’s far from going out of business. With 660 stores across 45 states, Cracker Barrel remains a beloved staple for many.
So, the next time the question, ‘Is Cracker Barrel going out of business?’ crosses your mind, you already know what the answer is!