If you grew up anywhere near Ohio, Indiana, or Kentucky, there’s a pretty good chance you know Frisch’s Big Boy. For a lot of folks, it’s the place with the checkered mascot hoisting a burger, the home of that sweet tartar sauce, and those classic breakfast bars. But lately, the news around Frisch’s has been anything but cheerful.
Rumors about the company going out of business have been swirling online for months. Is Frisch’s Big Boy really disappearing for good? Not exactly. The chain isn’t going completely under, but it’s definitely having one of the toughest years in its history.
Frisch’s Is Facing Major Financial Struggles
Let’s get right to the heart of the matter: Frisch’s is in serious financial trouble right now. The details have gotten more public as lawsuits and eviction notices pile up against the company.
Over a quarter of all the Frisch’s restaurants still standing—at least 20 out of the company’s roughly 80 remaining stores—are at risk of being evicted. Why? Frisch’s owes more than $4.5 million in rent, and the missed payments have sent landlords straight to court. The main landlord in question, NNN REIT LP, actually owns a ton of Frisch’s store buildings, and they have filed most of those eviction lawsuits since late 2023.
So what happens when a restaurant can’t pay its rent? The court can side with the landlord, which means the store closes and the owner locks the doors. That’s exactly what’s already happened to more than 20 Frisch’s locations so far, with some basically shuttering overnight once the eviction paperwork landed.
Unpaid Rent, Lawsuits, and Fast-Moving Closures
It hasn’t just been a handful of stores quietly closing here and there. This has become a wave of closures that’s hard for loyal fans to ignore.
The rot set in back in spring 2024. Some Frisch’s spots closed abruptly, and employees shared stories online about showing up for a normal shift and finding the doors locked. Then, by October 2024, the picture started to come into focus: at least 20 locations were facing formal eviction lawsuits, and more than 20 had already closed their doors completely, with more on shaky ground.
NNN REIT LP, the Florida-based landlord, has taken a tough approach. Once Frisch’s fell behind on rent, the lawsuits came quickly. Some court filings show restaurants being $40,000 to $100,000 behind—a huge sum for a single location that already operates on thin margins.
It’s not just the landlords demanding what’s owed, either. Food suppliers and other vendors, who provide the ingredients and essentials for the restaurants, have filed their own lawsuits for unpaid bills. It’s a snowball effect: unpaid rent triggers legal action, which drains the company further, leading to even more unpaid bills.
The Backstory: New Owners and a Risky Deal
So you might wonder, how did Frisch’s get into a hole this deep? The roots go back to 2015, when a private equity group called NRD Capital bought Frisch’s. At first, it seemed like a typical move you see in the restaurant world. But after the takeover, the real estate behind many Frisch’s stores was sold off in what’s known as a “sale-leaseback.”
Basically, Frisch’s sold its property to NNN REIT LP, got a big chunk of cash upfront, and then rented the stores back. That gave the new owners immediate money, but it also meant Frisch’s now owed rent every single month, even if sales went down.
This model works if business is booming. But Frisch’s isn’t a trendy new brand riding a national wave. It’s a Midwestern staple facing a lot of the same post-pandemic problems other sit-down chains have hit: rising costs, changing tastes, fewer dine-in customers, and expensive leases every month no matter what.
As pressure mounted, NRD Capital and Frisch’s management found it harder to keep up, and eventually, the unpaid rent stacked up faster than they could catch up. That’s what set the stage for the current eviction crisis.
Legal Headaches: From Rent to Suppliers
The legal issues didn’t stop with the rent either. As more locations fell behind, vendors who supply everything from hamburger buns to cleaning supplies began to sue for unpaid bills. These lawsuits can quickly compound a chain’s financial problems.
If you’ve worked in restaurants, you know how quickly one crisis can lead to another. When the food vendors aren’t paid, deliveries stop. When the lights go off because the electric bill hasn’t been settled, it’s game over for that location. In the Frisch’s scenario, several issues hit at once: missed rent, unpaid vendors, and eventually, angry staff left in the lurch.
Court records from late summer 2024 suggest that Frisch’s was simply unable to keep up with all the demands. Once the landlord lawsuits hit double digits, even longtime employees started looking elsewhere.
What Does Management Say?
Through all of this, Frisch’s leadership has tried to reassure customers and staff that things aren’t as dire as they seem. CEO Adam Noyes and the parent company, NRD Capital, publicly denied that there were widespread closures planned back in early 2024. At the time, they acknowledged a “challenging environment” but didn’t offer details.
As more stores closed, the company line became harder to maintain. By fall, even the most loyal franchisees felt the pressure. Some locations put up signs blaming supply chain issues, others just pulled the plug with little warning.
NRD Capital hasn’t really explained how, or if, they plan to save the restaurants that are left open. Emails to corporate often go unanswered. The staff at remaining locations say they know as much as the customers.
Impact on Workers and Customers
When a restaurant closes, it’s the workers who feel it first. Dozens of Frisch’s employees have lost their jobs as a result of these sudden shutdowns in 2024.
Some shared their experiences on social media, with stories of hearing about the closure the same day they showed up for work. Others learned from co-workers or customers calling in. For long-time servers and kitchen staff—some with 10 or even 20 years at the same store—it’s a bitter way to end a career.
From a customer perspective, it’s just confusing. Reviews pop up online asking why certain locations are closed, or if the whole chain is gone. Some fans stock up on jars of Frisch’s tartar sauce, “just in case.” For many, it’s about losing a little piece of childhood or the regular comfort spot for weekend breakfast.
Brand perception, as marketing folks put it, has definitely taken a hit. Nobody wants to drive across town for onion rings and find a “Closed for Business” sign taped on the window.
So What Comes Next for Frisch’s?
Here’s where things get complicated. Frisch’s isn’t shutting down completely—at least, not yet. Several dozen restaurants are still open as of October 2024. But a huge chunk of the company’s footprint has vanished in just a few months.
Frisch’s long-term survival depends a lot on what happens in the courtrooms. If the company can negotiate new deals or come up with back payments, some of these stores might stay open. But if things keep sliding—more lawsuits, more unpaid bills, more landlords losing patience—you could see more locations disappear.
A lot of experts look to what happened after the 2015 ownership change and warn that relying on private equity for fast cash has its risks. That’s especially true for old-school family dining chains with steady, but not spectacular, sales. With rising rents and tight cashflows, there’s not a lot of room for error.
For more business stories like this one, check out Sera Business.
The Bottom Line: Frisch’s Isn’t Totally Gone, But It’s in Real Trouble
If you’re wondering, “Is Frisch’s going out of business?” the honest answer is: not everywhere, not yet. But the chain is shrinking fast. It may still survive in some form, but there’s a real risk that only a handful of stores might last if things don’t turn around soon.
For fans, employees, and local communities, it’s a tough situation with no easy answers. The next six months will say a lot about whether Frisch’s can pay down its debts, renegotiate leases, and restore some confidence—or if this is the beginning of the end for one of the Midwest’s most familiar dining brands.
FAQs: What You Need To Know
Are all Frisch’s locations closing?
No, not all Frisch’s are closing. But more than a quarter of locations are facing eviction as of October 2024, and the number of closures is rising.
Why are so many Frisch’s closing?
Most closures are linked to unpaid rent and evictions, which have become a big problem since the company’s 2015 sale-leaseback agreement with its main landlord.
Is Frisch’s declaring bankruptcy?
As of now, Frisch’s has not officially filed for bankruptcy. But the flood of lawsuits and unpaid bills has led many industry watchers to keep a close eye on their next moves.
Will my local Frisch’s close?
It depends on whether that store’s landlord is one of those filing eviction notices, and if Frisch’s can catch up on rent. Some stores may survive if deals can be worked out.
Where can I follow updates?
Local news outlets and official company statements will have the latest. Meanwhile, dedicated business news sites and restaurant industry sources are tracking changes closely.
So for now, you might still be able to grab that classic Big Boy sandwich if your local is open—but there’s no guarantee how long that’ll last.