The casual dining giant Outback Steakhouse has made sweeping, sudden changes to its restaurant footprint after shuttering 21 restaurants in October.

The abrupt closures are a direct result of the parent company, Bloomin’ Brands, announcing a “comprehensive turnaround strategy” in its third-quarter earnings report .

The plan is focused primarily on the Outback Steakhouse brand to restore growth and sharpen its competitive edge.

To support this realignment, Bloomin’ Brands simultaneously suspended its shareholder dividend and recognized a significant financial charge. The company said it will take a $33.2 million impairment and closure charge for the closed and underperforming restaurants and has suspended its dividend to help pay for the turnaround plan and prioritize debt reduction.

See Full Page