"Back in the 1990s, Lone Star Steakhouse was selected as the best small company in the country by Forbes for three years in a row. It also received the distinction of being the highest-ranked restaurant on the magazine's list of the 100 fastest-growing businesses. In other words, things were looking very good in the early 1990s, and the company peaked with around 265 locations."
"Lone Star's growth was meteoric. In just five years, it had opened nearly 200 locations and saw its stock price increase by over 1000%. Rising costs began to take their toll, and by 1997, stock prices were cut in half. By 1999, they were closing some locations. In 2006, a private equity firm took ownership, made a number of changes, and closed more locations."
Lone Star Steakhouse expanded rapidly into a national chain centered on mesquite-grilled steaks, seafood, salads, burgers, and a few pasta dishes, peaking at roughly 265 locations. Early acclaim and strong stock performance in the 1990s fueled rapid growth. Rising operating costs and weakening stock values led to location closures in the late 1990s. Private-equity ownership in 2006 produced further closures and operational changes. Continued shutdowns through 2016 culminated in a 2017 bankruptcy filing. One Lone Star remains open in Guam, serving classic menu items alongside locally influenced dishes such as Steak House Loco Moco, escabeche, and tinaktak.
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