Stoney River Steakhouse and Grill closes location, no bankruptcy filing

The steakhouse restaurant sector has faced a troubling rise in the cost of beef that led to steak prices spiking 16% to $12.73 per pound in March 2026, according to data from the Federal Reserve Bank of St. Louis, WIBC- Radio reported.

Aside from the cost of beef, restaurants have also dealt with rising labor costs and higher prices for other products driven by inflation over the last three years.

Restaurants have passed higher costs on to consumers, who have become more selective with their dining choices.

Certain establishments have taken drastic measures to remain profitable, such as closing underperforming locations and, in some cases, filing for bankruptcy protection.

Stoney River Steakhouse closes location

High-end dining chain Stoney River Steakhouse and Grill revealed it will close its Towson, Md., restaurant location by June 26, 2026, and lay off 68 employees, according to a Worker Adjustment and Retraining Notification notice that the company filed with the Maryland Department of Labor on April 20.

The steakhouse chain, however, did not cite beef or labor costs or any other reason for the closure.

"After close evaluation of the market, we have made the difficult decision to close the Towson location," Chris Conlon, executive vice president of operations at SPB Hospitality, said in a statement, according to The Baltimore Banner. "Employees have been offered various opportunities, including the option to transfer to nearby locations."

Stoney River Steakhouse and Grill continues operating a location in Annapolis, Md.

Restaurant opened in mall's luxury wing

The upscale Nashville, Tenn.-based restaurant chain, which is owned by SPB Hospitality, opened at the Towson Town Center in 2009 in Towson, Md., as part of a 100,000 square-foot mall expansion that included a luxury wing, The Banner reported. The steakhouse chain was known as Stoney River Legendary Steaks at the time.

The luxury wing has lost several high-end retailers since 2009, including Burberry, Louis Vuitton, and Swarovski. An Apple store is set to close on June 11, WBFF-TV in Baltimore reported. Retail chains, such as Tory Burch, Pottery Barn, White House Black Market, Tumi, and Brazilian steakhouse Fogo de Chão, remain in the 25% vacant mall.

Steakhouse has upscale prices

Stoney River Steakhouse's upscale menu items include a 22-ounce bone-in ribeye steak at $58, a 10-ounce coffee-cured filet mignon at $55, a 10-ounce center-cut filet mignon for $54, a 14-ounce ribeye steak for $51, a 16-ounce New York strip steak at $50, and 12-ounce prime rib for $45.

Stoney River Steakhouse and Grill operates 14 restaurants in nine states, including Alabama, Georgia, Illinois, Kentucky, Maryland, Michigan, Missouri, North Carolina, and Tennessee.

801 Chophouse filed for bankruptcy

Stoney River Steakhouse and Grill did not file for bankruptcy, but another unrelated high-end steakhouse recently filed a Chapter 11 petition.

The owner of the high-end steakhouse chain 801 Chophouse was forced to take more serious action as it filed for Chapter 11 bankruptcy protection on April 10 to restructure its debts and keep operating its restaurants, the Des Moines Register reported.

The company did not state a reason for filing for bankruptcy.

Stoney River Steakhouse locations:

• 563 John Henry Way, Madison, Ala.
• 2860 Cumberland Mall SE, Suite 1640, Atlanta
• 5800 State Bridge Road, Duluth, Ga.
• 10524 Alpharetta Highway, Roswell, Ga.
• 20504 N. Rand Road, Deer Park, Ill.
• 3900 Summit Plaza Drive, Louisville, Ky.
• 2190 Annapolis Mall, Annapolis, Md.
• 825 Dulaney Valley Road, Suite 1157, Towson, Md.
• 155 West Big Beaver Road, Troy, Mich.
• 377 Chesterfield Center East, Chesterfield, Mo.
• 201 South Estes Drive, Space 100A, Chapel Hill, N.C.
• 1726 Galleria Blvd., Franklin, Tenn.
• 7515 Poplar Ave., Suite 101, Germantown, Tenn.
• 3015 West End Ave., Nashville, Tenn.

Related: High-end steakhouse chain files Chapter 11 bankruptcy

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This story was originally published April 22, 2026 at 6:18 PM.