Outback Steakhouse Sees the Bloom Come Off Its South Korean DreamBy
Outback Steakhouse’s entry into South Korea was deemed a “success story” (PDF) by industry observers back in 2008. The chain, owned by Tampa-based Bloomin’ Brands, has been in the country since the mid-1990s and has expanded to 110 restaurants, making South Korea its second-largest market by store count. Things took a turn for the worse this year, and on Tuesday the company announced plans to close almost a third of its Korean locations.
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