Cracker Barrel can’t seem to keep itself out of the news these days. The backlash from the company’s attempt at a rebrand continues to spark discussion. The company regained many customers by announcing that it would no longer proceed with any planned remodels. Cracker Barrel also returned to its roots, featuring the familiar logo with the beloved Uncle Herschel. It remains to be seen whether these moves are sufficient to have a positive impact on the bottom line. In 2019, Cracker Barrel acquired the Maple Street Biscuit Company for $36 million. The company hoped to see big growth, but instead, several locations will close.
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Cracker Barrel Plans To Shutter 14 Maple Street Biscuit Company Locations
According to Nation’s Restaurant News, Cracker Barrel made a change to its Maple Street Biscuit Company Plans in 2024. When current CEO Julie Fells Masino took over, the plan shifted from opening new stores to focusing solely on Cracker Barrel.
“Our top capital allocation priority is investing in the core Cracker Barrel business … Therefore, we have decided to slow down Maple Street’s unit growth in the short term while we work on improving that business model and as part of our focus on investing in the Cracker Barrel business. As a result of our decision to slow down Maple Street’s growth, we recorded a goodwill impairment of $4.7 million,” Chief Financial Officer Craig Pommells said in May 2024, per NRN.
Despite Cracker Barrel’s decision to close the 14 Maple Street Biscuit Company locations, the business continues to maintain an active social media presence.
The website shared the company’s commitment to quality.
“We promise to bring you fresh-cracked eggs. We promise to bake our biscuits from scratch every day, and never serve you some previously frozen puck of dough. We promise to provide impeccably clean stores, where you can focus on delicious food and those with whom you choose to enjoy it. Like you, our biscuits are a lot of things, but we promise they’ll never be boring.
This story’s featured image is by GREGORY WALTON/AFP via Getty Images.
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