Red Robin has announced it is considering closing about 70 underperforming restaurants.

The restaurant chain reported total revenue for fiscal 2024 was $1.25 billion , a decrease of $54.5 million from fiscal 2023.

Net loss was $77.5 million, as compared to a net loss of $21.2 million during 2023, according to a news release from the company.

How many 'underperforming' restaurants will Red Robin close?

During the fourth quarter of fiscal 2024, Red Robin closed one restaurant when its lease expired.

It is now "evaluating alternatives for approximately 70 underperforming restaurant locations, including closure upon expiration of the current lease term," according to its financial report.

The company plans to sell three properties by the end of the first quarter of fiscal 2025.

Will any Florida Red Robin restaurants close in 2025?

Red Robin has not released which locations will be closing in 2025.

How many Red Robins are there in the US?

Red Robin said there are nearly 500 restaurants in the U.S. and Canada, including those operating under franchise agreements.

How many Red Robins are there in Florida?

Red Robin focusing on 2 priorities

"As we look to 2025 and beyond, our team will focus on two key priorities : bringing guests back into our restaurants for moments of connection over craveable food that only Red Robin can provide and an accelerated effort to gain efficiency in our operations and deliver growth in restaurant and corporate-level profitability while maintaining the improved guest experience that we have developed over the past two years," according to G.J. Hart, Red Robin's president and chief executive officer.

"While financial results for 2024 fell well below our original expectations, we've made substantial improvements to the guest experience and believe we still have a significant opportunity ahead of us to reach the full potential of our iconic brand," Hart said.

Coming up will be new menu items and promotions throughout 2025, including limited-time offers and new salad options to help the restaurant bring back customer, Hart said.