A 47-year-old high-end meat and seafood chain closes 80 locations

The steakhouse industry has faced a major hit from rising beef costs, with beef prices increasing 16% to $12.73 per pound in March 2026, according to data from the Federal Reserve Bank of St. Louis, WIBC-Radio reported.

As the price of beef for restaurants increases, consumer demand for the product has decreased as menu prices also increase, reducing sales at steakhouses.

The reduction in sales has led certain establishments to close their businesses.

McCormick & Schmick branch closes

Landry’s Inc., owner of the restaurant chain, closed its upscale McCormick & Schmick’s steakhouse in downtown Pittsburgh after operating for 18 years, the company announced May 26 in a notice on the restaurant’s front door, according to KDKA-TV.

“We regret to inform you that this location has closed,” the message said.

“We are grateful for the support of our community and encourage our guests to visit us at our nearby sister locations!” the notice said.

The message listed six Landry’s sister restaurants near the closed restaurant: Del Frisco’s, Ground Concourse, Morton’s, Bill’s Bar & Burger, Houlihan’s and Mitchell’s Fish Market.

Landry’s did not disclose the reason for closing the McCormick & Schmick location in downtown Pittsburgh.

“After many years serving the downtown Pittsburgh community, McCormick & Schmick’s on Fifth Avenue has made the difficult decision to close its doors,” Shah Ghani, the company’s chief operating officer, said in a statement to KDKA.

“We are incredibly grateful to our loyal guests and dedicated team members for allowing us to be a part of so many celebrations, traditions and memorable moments over the years,” Ghani said.

The company is moving employees to nearby sister locations, he said.

The chain had 94 restaurants.

Founders Bill McCormick and Douglas Schmick owned about 94 restaurants at the company’s peak in 2009, including primarily McCormick & Schmick locations, as well as Jake’s Famous Crawfish, M&S Grill, McCormick & Kuleto’s, William Douglas Steakhouse and The Boathouse, according to The Oregonian.

The company opened the city’s first McCormick & Schmick’s at SouthSide Works in 2005, followed by the downtown Pittsburgh location in 2008. The company closed the SouthSide location in 2021, according to KDKA.

McCormick & Schmick’s cuts 80 stores

McCormick & Schmick’s has closed about 80 locations since its peak and currently operates 14 locations in 11 states, plus M&S Catering at the Museum of Flight in Seattle.

Landry’s traces McCormick & Schmick’s roots to 1974, according to its website, before Bill McCormick purchased Jake’s Famous Crawfish in 1975 and created the partnership chain with Douglas Schmick in 1979.

McCormick & Schmick’s sold the chain to Landry’s in November 2011 for $131.6 million, The Oregonian reported.

Other high-end steakhouse chains have also been forced to close locations due to rising food costs and declining consumer demand.

Related: Franchisee of bankrupt burger chain liquidates 49 stores

Other Steakhouses Nearby Locations

High-end restaurant chain Stoney River Steakhouse and Grill said it will close its Towson, Maryland, restaurant by June 26, 2026, and lay off 68 employees, according to a Notice of Worker Adjustment and Retraining notice the company filed with the Maryland Department of Labor on April 20.

“After a thorough evaluation of the market, we have made the difficult decision to close the Towson location,” Chris Conlon, executive vice president of operations for owner SPB Hospitality, said in a statement, according to The Baltimore Banner. “Employees have been offered several opportunities, including the option to relocate to nearby locations.”

Stoney River Steakhouse and Grill operates 14 restaurants in nine states, including Alabama, Georgia, Illinois, Kentucky, Maryland, Michigan, Missouri, North Carolina and Tennessee.

Another high-end steakhouse chain, 801 Chophouse, whose parent filed for bankruptcy on April 10, closed an affiliated restaurant in Minneapolis, 801 Nicollet, which it had previously operated under another name, 801 Fish.

Parent company 801 Restaurant Group LLC owns eight 801 Chophouse locations in Denver; Des Moines, Iowa; Kansas City and St. Louis, Missouri; Leawood, Kansas; Minneapolis; Omaha, Nebraska; and Tysons Corner, Virginia.

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This story was originally published by TheStreet on May 28, 2026, where it first appeared in the Restaurants section. Add TheStreet as a preferred source by clicking here.