The American steakhouse sector is facing intense pressure, and one prominent chain's dramatic contraction serves as a stark warning. McCormick & Schmick's, an upscale restaurant group once boasting nearly 100 venues, now operates a mere 13 locations across the United States.
From Pacific Northwest Pioneer to National Powerhouse
Founded in Portland, Oregon in 1979 by Bill McCormick and Douglas Schmick, the brand's initial concept was both simple and compelling. It aimed to deliver high-quality steaks, exceptionally fresh seafood, and plentiful oysters in an atmosphere that felt refined yet relaxed, avoiding the stuffiness of traditional white-tablecloth dining.
The formula was an instant hit. Locals and visitors flocked to the original site, and its reputation for polished but unpretentious service grew rapidly. Throughout the 1980s and 1990s, the chain expanded aggressively, targeting downtown areas, business districts, and convention centres nationwide.
It became a favoured destination for corporate expense-account dinners, martini-fuelled happy hours featuring oysters, and lavish seafood towers. By the late 2000s, McCormick & Schmick's was at its peak, with close to 100 restaurants and catering locations spanning the US and Canada.
The Acquisition and the Accelerating Decline
A pivotal shift occurred in 2011 when the Houston-based restaurant conglomerate Landry's acquired the chain. Landry's, which also owns Morton's The Steakhouse and Bubba Gump Shrimp Co, soon began to see the brand's footprint shrink.
The first major wave of closures hit in 2017, wiping out roughly a third of the existing locations. Subsequently, more restaurants quietly vanished as leases expired. The pace of retreat quickened markedly in 2024 and 2025.
The brand shuttered its final Oregon restaurant, closing the loop on its home state. It also shut long-standing sites in major cities like Charlotte, North Carolina, and even Chicago's Loop, once considered prime territory. The current count of 13 remaining restaurants underscores a staggering fall from grace.
A Perfect Storm for Classic Steakhouses
Industry analysts point to a confluence of factors behind the decline, affecting not just McCormick & Schmick's but the broader classic steakhouse segment. Rising operational costs, evolving consumer tastes, and fierce competition have created a challenging environment.
Furthermore, Landry's appears to have prioritised other concepts within its vast portfolio, often replacing closed McCormick & Schmick's locations with newer or more profitable brands instead of investing in a revival.
The struggles are sector-wide. Outback Steakhouse's recent closures and restructuring efforts exemplify the same pressures, demonstrating that even established names must adapt swiftly or risk fading into obscurity. The story of McCormick & Schmick's serves as a potent case study in the volatile realities of the modern restaurant industry.
