If you grew up in Ohio or Kentucky, you probably know Frisch’s Big Boy: the checkered overalls, the double-decker burger, and those Big Boy statues that spark a little nostalgia from a distance. But these days, a different feeling hangs over the chain. People are asking if Frisch’s is going out of business—mainly because, well, a lot of locations are suddenly closing.
So, what’s happening? Is Big Boy on his way out, or is there something else behind all the “for lease” signs and sudden shutdowns?
Frisch’s Own Statement: Not Gone, But Shrinking
Let’s start with what the company says. In public statements, Frisch’s has repeated that it is not shutting down entirely. But management admits something big is happening: “Due to unforeseen circumstances and various other factors, Frisch’s Big Boy Restaurants will be closing certain locations.”
That’s official speak for “we’re in trouble, but we’re not dead yet.” If anything, the phrase “certain locations” is doing a lot of heavy lifting here.
Major Downsizing: Dozens of Closures and Evictions
So just how bad is the downsizing? More than 20 locations—over a quarter of their restaurants—have either been shut down or are in the middle of eviction proceedings as of mid-2024. Most of these are clustered in and around Cincinnati and Southwest Ohio, which, let’s be honest, is basically the heartland of Frisch’s.
What customers are seeing is something they haven’t had to deal with before: favorite restaurants closing up without much warning. You drive by one day and the lights are off. The next day, there’s a legal notice pasted to the door.
That kind of shock is happening again and again. And if you look at a map of current locations, the number has dropped sharply all through 2024.
How Did It Get Here? Financial Pressures and Unpaid Rent
The core problem behind all this is about money, but not just the usual slow bleeding of a chain past its prime. The real trouble goes back to changes in ownership and something called a “sale-leaseback.”
Back in 2015, a private equity firm called NRD Capital bought Frisch’s Big Boy. Part of the deal involved selling off the physical restaurant properties to a company named NNN REIT LP—basically, a landlord that specializes in owning retail real estate.
NRD Capital got a big chunk of cash from the sale, but from then on, Frisch’s Big Boy had to pay rent at almost every one of its own locations. That’s a pretty disruptive shift for a family-run burger chain.
In early 2024, things reached a tipping point. According to court filings, Frisch’s stopped paying rent at many restaurants in February. By spring, NNN REIT LP started filing eviction actions in court. Dozens of Frisch’s addresses popped up in county records as “defendants.”
Legal Drama and Vendor Lawsuits Make the Mess Worse
Eviction isn’t the only battle, either. Beyond rent, Frisch’s has also been sued by suppliers—vendors who want to get paid for food and services already provided. If you’ve ever run a small business, you know it’s a bad sign when the people who deliver your lettuce and napkins have to chase you down in court.
Those lawsuits highlight how broad the trouble is. It’s not only landlords standing at the door. It’s also other businesses who want to know if they’ll ever see their money again.
That kind of news spreads fast in the community and among employees. Workers at some closing locations have said they received almost no notice. One day, it was regular business; the next, they had to find new jobs.
Are the Closures Random, or Is There a Strategy?
It might not look organized from the outside, but there’s a sort of logic to which restaurants are closing first. Some real estate analysts think NNN REIT LP—the landlord—is trying to keep just the strongest locations.
If you’ve never heard of NNN before, their main business is collecting rent from retail properties across the country. They care a lot more about steady payments than about nostalgia for the Big Boy burger. If a restaurant is slow, has high overhead, or isn’t in a prime spot, it’s more likely to get cut.
In the end, the process looks a little ruthless, but it isn’t personal. It’s just business. If a Frisch’s is busy and still making money, it might get a second chance, even if others nearby are closing.
What’s Still Open? Who’s Left Standing?
As of this summer, Frisch’s Big Boy still has several dozen locations open. That said, the total number of restaurants has fallen fast—dropping from more than eighty down to somewhere in the fifties or lower, all in a matter of months.
If you want to check for yourself, the company’s website has an updated list of which spots are still serving breakfast or the classic Big Boy Combo. But seeing a long list of closures in the news can make anyone nervous about their local go-to spot.
In communities where a location shuts down, the loss is not just about fries and shakes. It’s about employees looking for new work, customers who make weekly visits, and a sense that something familiar is fading out.
Why This Isn’t a Simple Bankruptcy Story
Usually, when a restaurant chain is in this much trouble, people expect a headline about bankruptcy and a fire sale of the entire brand. But with Frisch’s, the legal filings are mostly about evictions, not bankruptcy court. That matters because it shows how much of the problem stems from real estate, not necessarily the day-to-day business.
Private equity owners—like NRD Capital—often use sale-leasebacks as a way to get money upfront. In this case, that deal worked for a while, but once the company couldn’t make the rent, it created a domino effect: missed payments, legal threats, and sudden closures.
Here’s one extra headache: when a chain is tied up in landlord disputes, it can’t easily find new investors or sell extra assets to pay bills. That leaves less room to maneuver.
So, Is Frisch’s Big Boy Going Out of Business?
The answer is: not completely, at least not right now.
Frisch’s is, by all public data, still alive and operating—just in a much smaller way than before. If you drive around southwest Ohio, you’ll see several locations still open, serving regulars and kids getting pancakes on a Saturday.
But the pace of closures and legal mess means that for a lot of communities, Frisch’s has already become a memory. More shutdowns could still come, depending on how these court cases unfold and whether the owners can steady the company.
Experts who follow the restaurant industry point out that other chains have come back from rough patches. But the ones that survive often have to shrink first, rethink their business, and focus on their best locations.
If you’re into business stories or want to learn more about restaurant turnarounds, there are great resources at serabusiness.com that break down the patterns in the industry.
That doesn’t mean it’s easy. Families lose jobs. Neighborhoods lose a regular hangout. You lose a spot you’ve visited since you were a kid.
What To Watch For Next
Realistically, the next few months will determine what Frisch’s looks like by 2025. The debt issues and court disputes aren’t settled, so even some open locations could be at risk.
If management can work out new deals or sell off slow locations, a smaller but more stable Frisch’s could stick around. But there’s also a chance—if the rent and lawsuit issues don’t get fixed—that more people will see their local Big Boy disappear.
For now, here’s what we know: Frisch’s Big Boy is not totally going out of business. It is, however, going through the kind of deep trouble that could change the company for good, even if some burgers and pies remain.
Kind of tough for a place that once felt like part of the everyday routine. Still, for the fans of those tartar sauce-topped burgers, there’s hope—just not a guarantee—that the next visit won’t be their last.