Core Insights - Chili's is recognized for popularizing fajitas and baby back ribs in the U.S. restaurant scene, with its first location opening in 1975 [2][4] - Damon's Grill, once a competitor to Chili's, experienced rapid growth followed by a significant decline due to market changes and internal challenges [4][5] Company Overview - Chili's began as a burger shack with 25 menu items and expanded its offerings, notably introducing fajitas in 1986 [2] - Damon's Grill peaked with over 150 locations but faced bankruptcy and a slow decline, attributed to liquidity issues and market competition [5] Market Conditions - The restaurant industry faced significant challenges during the "great recession," with foodservice sales projected to drop by 3.8% in 2010, reflecting a tough economic environment [6] - The period from 2008 to 2010 was marked as the weakest in foodservice history, with many restaurants experiencing slowed same-store sales [6]