In 1993, 1994, and 1995, Lone Star was awarded the distinction of "best small business in the country" by Forbes magazine, and in 1994 ranked No. The initial public offering raised $91 million. The chain, at this point featuring eight restaurants, went public in March 1992 to raise the cash for expansion. Coulter incorporated Lone Star Steakhouse & Saloon in January 1992, becoming the President, CEO, and Chairman of the chain. in 1991, Coulter signed an agreement with Creative Culinary Concepts to open 4 Lone Star restaurants, which would have a Texas Roadhouse-style ambiance. Separately, a company called Creative Culinary Concepts opened a prototype Lone Star Steakhouse & Saloon restaurant in Winston-Salem, North Carolina, in 1989. Coulter, who started his restaurant career as a major franchisee of the Pizza Hut chain. Also as of August 2021, one remaining independently owned and operated location of this restaurant still exists in Tamuning, Guam. The location reopened as a Saltgrass Steak House. On October 6, 2019, the second-to-last location in Knightdale, North Carolina officially closed, which was the last Lone Star location in the continental United States. īy August 2019, the then operating company website advertised four locations, all of which are independently confirmed closed. The company filed for Chapter 7 bankruptcy on September 7, 2017. At its maximum, 267 Lone Star Steakhouses were in operation. In March 1992, Lone Star became a public company with eight restaurants opened. Lone Star opened its first restaurant in 1989 in Winston-Salem, North Carolina. The chain served steak, seafood, salad, and similar food items. Lone Star Steakhouse & Saloon was an American casual dining restaurant chain with a single independently owned and operated franchise still in business in 2021 on the island of Guam. Last archive of website for former chain.
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