Here's What Actually Happened To The Ponderosa Steakhouse Chain

Once upon a time, Ponderosa Steakhouse was a powerhouse restaurant chain with nearly 700 locations in the U.S. and Canada. Today, there are only 15 left operating in the country.

The steakhouse, known for its extensive buffet, fell victim to changing consumer tastes, especially with younger diners, who prefer fast-casual restaurants like Chipotle.

Back in 2016, Bob Goldin, then vice chairman of Technomic Inc., said that buffet-style restaurants mainly appeal to older customers and that their model is out of touch.

It also suffered from managerial changes, as Metromedia Restaurant Group bought Ponderosa in 1988 and went through a series of bankruptcies soon after.