Ovation Brands has abruptly shuttered 74 restaurants as part of a national restructuring plan.
Before the Thursday shakeup, Ovation had 328 locations across its brands. The company closed nearly a quarter of its restaurants.
The restaurant operator was acquired by Food Management Partners in August. The new parent company explained that the affected restaurants had been underperforming.
"It is necessary to shutter locations for the continued viability of our brands and our employees," Peter Donbavand, FMP's vice president of real estate and business development, said in a statement Thursday.
He said FMP had been assessing the performance of individual restaurants. However, the closures came as a surprise to employees at affected locations.
Donbavand also said that employees affected by the closures are welcome to apply for positions at remaining locations. He added that FMP plans to expand staffing at the operating restaurants.
The closures affect nearly all of the company's brands, including Country Buffet, Ryan's, Hometown Buffet, Fire Mountain and Old Country Buffet.