It seems the end is truly nigh for the nine remaining Sizzlers holding on to dear life in Australia.
Three in Perth, five in Queensland and one in NSW will reportedly close by November 15.
Sizzler’s parent company, Collins Foods, has blamed “peak COVID-19 impacts” as one of its reasons for closing the home of the iconic cheese toast.
Collins Foods added it would look to redeploy around 600 employees to its KFC and Taco Bell network.
“Of the three restaurant brands that Collins Foods operates, Sizzler has been hardest hit during the COVID-19 pandemic,” the company said in a statement issued to the ASX this morning.
“As a casual dining concept, and unlike Collins Foods’ KFC and Taco Bell restaurants, Sizzler revenues and earnings have been slow to recover from peak COVID-19 impacts.”
Collins Foods’ CEO, Drew O’Malley said the decision was a “difficult” one.
“As a casual dining concept, Sizzler has been the brand in our portfolio most impacted by the COVID19 pandemic,” he said.
“The ongoing impact of COVID-19 on revenues has meant that unfortunately, these restaurants have not established a clear path to profitability in the foreseeable future.”