The Last 19: Unpacking The Decline And Future Of McCormick & Schmick's Seafood & Steaks In 2025

McCormick & Schmick's Seafood & Steaks, once a sprawling national chain synonymous with fresh, upscale seafood, is currently navigating a period of dramatic contraction and reinvention under the ownership of hospitality magnate Tilman Fertitta. As of late 2025, the brand operates a significantly smaller footprint, with only 19 locations remaining across the United States, a stark contrast to its former glory days when it boasted nearly 100 restaurants. The ongoing story of the chain is one of corporate acquisition, shifting consumer tastes, and the challenging economics of the fine-dining seafood market, all culminating in a focused, albeit diminished, presence. The seafood and steakhouse concept, which pioneered the idea of a daily-printed menu to highlight the freshest catches, is now concentrating its efforts on high-traffic, established markets. This strategic focus aims to preserve the brand's reputation for quality while streamlining operations. The recent closure of its last remaining restaurant in its founding city of Portland, Oregon, serves as a poignant symbol of this new, more concentrated era for the iconic establishment.

The Corporate Biography: From Portland Staple to Landry's Portfolio

The history of McCormick & Schmick's is a classic American restaurant success story that eventually became a high-profile corporate acquisition.

• Founding Location: Portland, Oregon
• Founding Year: 1974
• Founders: Bill McCormick and Doug Schmick
• Original Concept: An upscale seafood restaurant offering a commitment to fresh, regional fish and a daily-changing menu.
• Initial Public Offering (IPO): The company went public in 2004, trading on the NASDAQ stock exchange under the ticker MSSR.
• Acquisition Target: In 2011, the company became the target of a bidding war, ultimately being acquired by Landry's, Inc.
• Acquiring Entity: Landry's, Inc., a multi-brand dining, hospitality, and entertainment conglomerate.
• Landry's CEO: Tilman J. Fertitta, a high-profile billionaire and television personality, who is the sole owner, chairman, and CEO of Landry's.
• Acquisition Price: The all-cash merger deal was valued at approximately $131.6 million.
• Current Status (2025): Operates approximately 19 locations across the U.S.

The acquisition by Tilman Fertitta was a significant turning point. Fertitta, who also owns restaurant chains like Morton's The Steakhouse, Chart House, and Rainforest Café, integrated McCormick & Schmick's into his vast hospitality portfolio. While an initial plan was floated to invest between $10 million and $15 million to modernize nearly 100 restaurants, the subsequent years have been marked by steady closures, ultimately rationalizing the brand's footprint to the current 19 key locations.

The Daily-Printed Menu and Signature Culinary Experience

At the core of the McCormick & Schmick's experience is its unwavering commitment to fresh seafood, a tradition that dates back to its 1974 origins. The chain’s hallmark is the daily-printed menu, a practice that ensures guests are served the freshest fish and seafood available that day, reflecting the concept's dedication to quality over a static offering. The menu is a comprehensive tour of global and regional catches, sourcing product from three major aquatic regions:

• Pacific Rim: Offering species like Hawaiian Ahi Tuna and Pacific Halibut.
• Atlantic Ocean: Featuring staples such as Atlantic Salmon and New England Clam Chowder.
• Gulf of Mexico: Providing regional specialties, often including various types of Gulf Shrimp and fresh Oysters.

Beyond seafood, the menu caters to a diverse palate, ensuring the "Steaks" part of its name is well-represented. Guests can find high-quality beef cuts, including filet mignon and ribeye, along with other classic American fare. The culinary approach also emphasizes sourcing products from local ranches, farms, and wineries to introduce regionally inspired dishes and support a farm-to-table ethos where possible.

The Award-Winning Happy Hour: A Brand Pillar

Perhaps the most universally recognized and successful element of the McCormick & Schmick's brand is its Happy Hour. Often cited as "The Best Happy Hour in America," this offering has been a crucial driver of traffic and a key LSI keyword associated with the restaurant for decades. The appeal of the happy hour lies in its combination of high-quality food and drink at accessible prices, creating a bridge between the upscale dining room and a more casual, after-work crowd. Key components of the happy hour program include:

• Bar Bites: A rotating selection of appetizers, often featuring their famous Oysters and mini-versions of signature dishes like the Crispy Calamari or Tuna Tartare.
• Beverage Specials: Discounted prices on well spirits, premium wines by the glass, and a selection of hand-crafted Mixology cocktails.
• Atmosphere: The energetic bar area is designed to be a vibrant social hub, distinct from the main dining room, which helps to attract a younger demographic and those looking for a lively experience.

The company also regularly participates in large-scale promotional events, such as Houston Restaurant Weeks and Devour Indy Restaurant Week in 2025, using these opportunities to showcase their menu and attract new customers through limited-time, prix-fixe menus.

The Future: A Smaller, More Focused Operation

The steady closures, including the symbolic end of its presence in Portland, indicate a decisive shift in corporate strategy under Landry's, Inc. The chain is moving away from a broad national presence to a highly selective one. The remaining 19 locations are typically situated in prime, high-traffic areas—often in major metropolitan downtowns, convention centers, or upscale waterfront developments like the one at National Harbor, MD. This rationalization strategy, common among legacy restaurant chains, suggests a focus on profitability and brand preservation in core markets. The remaining restaurants are tasked with maintaining the brand's reputation for classic seafood, its popular award-winning happy hour, and its commitment to a chef-inspired cuisine. The ultimate goal for Landry's and Tilman Fertitta is to ensure that while the chain is smaller, it remains a profitable, high-end entity within their diverse portfolio. For diners, the experience at a McCormick & Schmick's in 2025 is a promise of the classic, reliable seafood and steakhouse experience it has been known for, now delivered in a more exclusive set of venues.

Topical Entities and LSI Keywords:

Landry's, Inc., Tilman Fertitta, Portland Oregon, Seafood Restaurant Chain, Steakhouses, Daily Printed Menu, Award-Winning Happy Hour, Oysters, Pacific Rim Seafood, Atlantic Ocean, Gulf of Mexico, Corporate Acquisition, Restaurant Closures, Morton's The Steakhouse, Chart House, Rainforest Café, Fine Dining, Upscale Dining, Mixology, Restaurant Weeks, Devour Indy, Houston Restaurant Weeks, New England Clam Chowder, Crispy Calamari, Tuna Tartare, NASDAQ, MSSR.

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