Once popular restaurant chain O’Charley’s has closed its final 49 company-owned locations, marking the end of its 55-year history. At its peak, the chain operated 250 locations, primarily in the Midwest and the South, according to FSR Magazine. As of Saturday, the chain’s website and social media accounts were no longer accessible, and calls to two Kentucky locations resulted in automated messages stating the restaurants had closed. The closures are part of a broader strategy by Cannae Holdings, the parent company that acquired a stake in O’Charley’s in 2018. Cannae also owns Ninety Nine Restaurant & Pub. Cannae’s CEO, Ryan Caswell, stated in February that the company would shift its focus from restaurants to sports and entertainment assets. During an earnings call, Caswell said Cannae would "monetize nonstrategic assets" and "redeploy capital towards higher returning opportunities." He repeated this strategy in May, emphasizing that the company’s board would move capital from its restaurant division into more profitable ventures. O’Charley’s had been struggling financially, with a 13.1 percent decline in same-store sales during its second quarter. The chain had already closed four restaurants earlier this year in preparation for the full shutdown. In 2023, it closed over 50 locations due to ongoing challenges, including changing customer preferences and the loss of nearby malls and large retailers that had previously drawn foot traffic. The closure of O’Charley’s reflects broader trends in the restaurant industry, where many chains have faced declining sales and shifting consumer habits. As companies like Cannae Holdings seek to reinvest in more profitable sectors, the fate of O’Charley’s serves as a reminder of the challenges faced by traditional dining establishments in an evolving market.