Sizzler will close all its remaining restaurants next month, it was announced on Friday.
The struggling family restaurant chain which has been in Australia for 35 years will close its doors on November 15 as revenue continues to slump.
Parent company Collins Foods made the announcement to the Australian Securities Exchange on Friday, stating its 600 staff nationwide have been offered redundancies.
Sizzler's all-you-can-eat salad bar has become the latest victim of the coronavirus crisis
Revenue at Sizzler has taken a hit as diners steer clear of buffet-style eateries during the COVID-19 pandemic
'This has been a difficult decision for Collins Foods, especially given the impact of it will have on dedicated Sizzler employees and customers in Australia,' Collins Foods CEO Drew O'Malley said.
'A casual dining concept, and unlike Collins Foods' KFC and Taco Bell restaurants, Sizzler revenues and earnings have been slow to recover from peak COVID-19 impacts, and the overall Sizzler business has continued to operate at a loss since the onset of the crisis.'
The final Sizzler restaurants to close in Queensland are at Mermaid Beach, Loganholme, Toowoomba, Maroochydore and Caboolture.
In Western Australia, the last locations left are at Innaloo, Kelmscot and Morley.
While the last remaining restaurant to shut down in NSW will be at Campbelltown.
Although the coronavirus crisis was the final nail in the buffet-style restaurant's coffin, the writing has been on the wall for Sizzler for years.
The financial performance of Sizzler has been under constant review since 2015, after a brand review revealed that Sizzler Australia was no longer considered to be core to Collins Foods strategic growth strategy.
But trading continued to plot along at remaining restaurants recording 'cash-flow positive earnings'.
Sizzler has continued to operate at a loss since the onset of the coronavirus crisis (pictured, the entrance to Sizzler in Brisbane's CBD)
Since then however 19 other Sizzlers had closed down.
'The ongoing impact of COVID-19 on revenues has meant that unfortunately these restaurants have not established a clear path to profitability in the foreseeable future,' Mr O'Malley said.
'In FY20, Sizzler Australia revenues accounted for less than three percent of Collins Foods' total revenue.
'While the Sizzler Australia closure will allow us to minimise current-year and future losses, there will be some one-off closure costs that will be reflected in the upcoming half-year results.'
Collins Foods say will continue to licence the Sizzler brand in Asia were it has operated for the past 29 years.
The company hopes to redeploy as many affected Sizzler employees as possible to its KFC and Taco Bell network.
'Closing restaurants is not something we do often and not a decision we take lightly, especially for a brand as beloved as Sizzler which has been such an important part of Collins Foods' history,' Mr O'Malley said.
'We are extremely grateful to our dedicated employees, suppliers and customers for their support.'
The First Sizzler restaurant in Australia opened its doors in Queensland in 1985.
Collins Foods hopes to redeploy as many affected Sizzler employees as possible to its KFC and Taco Bell network
