SIZZLER may be fizzling out.
The future of the restaurant chain is in doubt after it announced it would close some of its restaurants.
Although it was not confirmed that the Kogarah restaurant would shut its doors, the company that owns Sizzler said it would not pour any more money into the business after it had to write down the value of the chain by $37.5 million this year.
Collins Food Limited, which also owns the stronger-performing KFC, is based in Queensland.
Well-known for its all-you-can-eat salad bars and cheesy toast, Sizzler will look to close "a small number of restaurants" and monitor the remaining ones in the next year.
Sizzler launched in California in 1958. Its first Australian restaurant opened in 1985 and there are 25 nationwide.
Collins Food said revenue had fallen 8.5 per cent to $88.5 million. The restaurant operator posted a $10.4 million loss for the year to March 3.
Chief executive Graham Maxwell said the move was a necessary course of action in order to pursue more attractive growth opportunities.
"We will not be investing further capital into Sizzler," he said. "Remaining restaurants will be closely monitored, with appropriate action taken as and when necessary."
Do you still go to Sizzler?
