The 47-year-old high-end steak and seafood chain is closing 80 locations

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

As the price of beef has risen in restaurants, consumer demand for the product has fallen as menu prices have also risen, reducing sales at steakhouses.

The decline in sales has led some establishments to close their businesses.

The McCormick & Schmick location is closing

Restaurant owner Landry’s Inc. has closed its upscale McCormick & Schmick’s steak and seafood restaurant in downtown Pittsburgh, after 18 years of operation, 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 is closed,” the message read.

“Thank you for the support of our community and we encourage our guests to visit our sister locations nearby!” said the notice.

The message listed six Landry’s 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 give a reason for closing the downtown Pittsburgh McCormick & Schmick location.

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

“We are very 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, said Ghani.

The company is moving workers to nearby locations, he said.

The chain had 94 restaurants

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

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

McCormick & Schmick is closing 80 stores

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

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

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

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

Related: Burger chain franchisee in decline ends 49 stores

Other places to stay are steakhouses

Upscale restaurant Stoney River Steakhouse and Grill said it will close its Towson, Md., restaurant on June 26, 2026, and lay off 68 workers, according to a Workforce Adjustment and Retraining notice the company filed with the Maryland Department of Labor on April 20.

“After careful consideration of the market, we have made the difficult decision to close the Towson location,” said Chris Conlon, vice president of operations at SPB Hospitality, in a statement, according to the Baltimore Banner. “Employees have been given a variety of opportunities, including the option to transfer 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 steakhouse chain, 801 Chophouse, whose parent filed for bankruptcy protection on April 10, closed a joint restaurant in Minneapolis, 801 Nicollet, which operated under another name, 801 Fish.

Parent 801 Restaurant Group LLC owns eight 801 Chophouse locations in Denver; Des Moines, Iowa; Kansas City and St. Louis, Mo.; Leawood, Kan.; Minneapolis; Omaha, Neb.; and Tysons Corner, Va.

Related: Popular Thai restaurant chain files for Chapter 11 bankruptcy

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