Cracker Barrel’s smaller-chain strategy has now ended with a full divestiture, a notable shift at a time when restaurant operators across the country are cutting weaker concepts and focusing on core brands. In Cracker Barrel’s case, that shift centers on Maple Street Biscuit Company, the breakfast-and-lunch chain it bought in 2019 and expanded across the Southeast and beyond. On July 20, 2026, the company confirmed it had sold part of the business and would close the rest.
Cracker Barrel confirmed the sale and closure plan on July 20
Cracker Barrel said on July 20 that it completed the sale of certain Maple Street Biscuit Company assets, including the trademark and the assets used in 35 locations, to Biscuit Belly. The company disclosed that move in a corporate announcement tied to broader strategic actions, including a sale-leaseback of 26 Cracker Barrel properties. Biscuit Belly separately stated in its media FAQ that it is acquiring 35 Maple Street locations and plans to transition them over the next 18 to 24 months.
The other 16 Maple Street restaurants are set to close as part of Cracker Barrel’s exit from the business. In its May 1, 2026 quarterly filing with the Securities and Exchange Commission, Cracker Barrel said it operated 52 Maple Street Biscuit Company locations in 10 states as of that date. That filing also said 16 Maple Street locations had already been closed during the first nine months of fiscal 2026 because of poor operating performance.
Cracker Barrel’s earlier disclosures showed the retreat had started well before the July sale. In its September 17, 2025 earnings release, the company said its fiscal 2026 outlook included the closure of 14 Maple Street units. Fox Business later reported that Cracker Barrel said those locations had already been closed and that they had fallen short of financial expectations.
The confirmed footprint spans 10 states, but not every affected city is public
The 10 states tied to Maple Street’s remaining footprint before the final exit were Alabama, Florida, Georgia, Kentucky, North Carolina, Ohio, South Carolina, Tennessee, Texas and Virginia, according to Cracker Barrel’s 2026 SEC filing and Biscuit Belly’s description of the acquired restaurant base. That is the clearest verified state-level map now in the public record. Biscuit Belly also said the first conversions are expected near Cincinnati and Richmond, Virginia, with initial rebrands beginning in January 2027.
What is confirmed is the state count and the scale of the transaction. What is not yet public is a comprehensive, location-by-location breakdown showing which restaurants were included in the 35-store sale and which 16 are closing. Cracker Barrel has not released a full list of affected cities in each state, and Biscuit Belly’s public FAQ does not provide store-by-store addresses.
That matters for local customers because the transition will not look the same everywhere. Biscuit Belly said stores it purchased are not planned to close immediately and will remain open during the conversion period. That means some diners in those 10 states may continue seeing Maple Street branding for months, even though the brand itself has effectively been sold off and is being phased out.
The move reflects weak performance, debt reduction and a narrower strategy
Cracker Barrel’s own filings tie the Maple Street retreat to operating weakness. The May 1, 2026 quarterly report said 16 Maple Street locations were closed because of poor operating performance, and it recorded impairment charges for three more sites where leases would not be extended. Earlier, the September 17, 2025 earnings release built the closure of 14 Maple Street units directly into the company’s fiscal 2026 outlook.
The July 20 strategic announcement also showed why the company is simplifying. Cracker Barrel said it completed a sale-leaseback transaction involving 26 Cracker Barrel stores that generated about $77 million in gross proceeds, with the company planning to use the money to reduce debt. In that same announcement, it said the Maple Street divestiture and related actions would improve profitability beginning in fiscal 2027, while it expected $37 million to $39 million in non-cash charges and $6 million to $8 million in cash costs tied to the exit.
For customers, the practical takeaway is straightforward. Some former Maple Street restaurants will continue operating for a period before becoming Biscuit Belly locations, while others have already closed or are slated to close as part of Cracker Barrel’s exit. Cracker Barrel’s focus now is back on its namesake chain, which the company says remains its core business as it works to improve profitability and reduce debt.
