The 15 Biggest Failed Restaurant Chains

Beefsteak Charlie’s

A classic New York city chain, the first Beefsteak Charlie’s opened in 1910, and its flagship location on 50th Street between Broadway and Eighth Avenue was a huge hit, serving its specialty steak sandwich to generations of sports enthusiasts (it had a horse racing theme).

In 1976, restaurateur Larry Ellman renamed his Steak & Brew chain Beefsteak Charlie’s, apparently after realizing that the name had never been trademarked, and by 1984 there were more than 60 locations all along the East Coast, buoyed by an all-you-could-eat salad bar and unlimited beer, wine, and sangria.

In 1987, the chain was acquired by Bombay Palace Restaurants, and when that group filed for bankruptcy in 1989, only 35 locations were still open, and over the next 15 years the remaining restaurants dwindled down to zero.

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