While Outback Steakhouse plays heavily into stereotypical Australian themes with large steaks and dish names like the Outback Special, the casual-dining chain was founded out of Tampa in 1988 at the height of the “Crocodile Dundee” action-adventure film series.
Over the ensuing four decades, the Outback Steakhouse brand expanded to approximately 670 locations across the United States and more than 1,000 globally as of 2026. Brazil, Canada, China, Costa Rica, South Korea, and even Australia itself are some of the countries with an Outback Steakhouse presence.
But like many long-standing dining chains, Outback Steakhouse has grappled with rising food and other operating costs and a changing market in which diners have many new options.
In 2026, Outback parent company Bloomin’ Brands closed more than 40 underperforming locations as part of a wider turnaround strategy that also involved digitizing more of the ordering process and focusing more on customer experience.
Cerca Trova Restaurant Group files for Chapter 11 bankruptcy protection
The latest news is that Cerca Trova Restaurant Group Holdings, a San Diego-based management company that is Outback’s largest domestic franchisee, filed for Chapter 11 bankruptcy in the U.S. Court for the District of Delaware on Nov. 2, Bloomberg Law reported.
The restaurant group operates approximately 60 Outback Steakhouse locations across Western states, including California, Arizona, Nevada, Colorado, and New Mexico. It previously operated under the name T-Bird Restaurant Group.
Related: Popular fried chicken chain suddenly closes all stores
Cerca Trova Restaurant Group Holdings had less than $50,000 in assets and between $100 million and $500 million in liabilities. Beyond that, limited information about the bankruptcy filing is publicly available.
Cerca Trova was founded in 1994 and is backed by funds from the H.I.G. Capital holdings company.
Bloomin’ Brands is the larger public parent company behind Outback Steakhouse as well as other dining chains such as Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar, while Cerca Trova is Bloomin’s franchisee partner for many Western states.
What is currently known about the Cerca Trova Outback franchisee bankruptcy
The restaurant group made its biggest bet on Outback in 2017 when it acquired 45 corporate-owned locations in Arizona, Colorado, Nevada, and New Mexico.
This deal also made Cerca Trova the sole operator of Outback Steakhouse locations in multiple Western states.
More Retail And Travel News:
- Airline to launch unusual new flight to Cayman Islands from the U.S.
- Taco Bell to bring back five favorites after 20 years
- 153-year-old footwear retailer quietly closes 40 stores
“We are excited to extend our presence outside of California,” Cerca Trova CEO Steve Weigel said in a statement at the time.
“The Outback concept is among the strongest in the casual dining sector, with a brand that customers have associated with high quality and value for nearly three decades. We look forward to building on our long and successful track record of representing Bloomin’ with well-run, popular restaurants.”
Following its efforts to generate cash flow and shed underperforming locations, Bloomin’ Brands stock has been up by more than 72% since the start of 2026.
A Bloomin’ representative called the bankruptcy “an isolated situation” that does not affect the parent company.
“This is an isolated situation involving the franchisee and does not affect Bloomin’ Brands’ corporate operations, financing, or liquidity,” the representative said in a statement it gave to TheStreet. “Bloomin’ Brands is participating in the process as a stalking‑horse bidder to acquire Out West’s assets and seeking to support operational continuity and protect the brand while the court‑supervised process moves forward.”
Related: Beloved seafood restaurant suddenly closes all locations after 98 years
