In the late 1980s and 1990s, Ground Round suffered from an outdated image compared to other casual dining competitors such as Chili's and Applebee's, an overly large menu, and debt from multiple sales that diminished the chain's ability to invest in restaurant remodels and other initiatives.

Boston Ventures Management acquired Ground Round in 1997 but struggled from delayed sales of corporate locations and a refranchising effort that left the company-owned stores underperforming franchised units.

[5] During the 1970s and 1980s, Ground Round was well-known for its children's parties, showing silent movies and cartoons on a big screen, a mascot named Bingo the Clown, and for passing out peanuts,[6][7] whose shells customers could just drop on the floor.

[10] Hanson Group USA purchased Imperial in 1986; three years later, International Proteins Corporation acquired Ground Round for $93 million, at which time the restaurant chain had 215 locations (178 corporate-owned).

[11] In the meantime, the once-simple menu had grown to over 200 items, the chain had failed to keep up with the times, the buildings and their decor were outdated, and the restaurant saw its market share drop.

[14] After sales slowed in the casual-dining segment and Chili's and Applebee's were able to invest more in advertising,[15] it was acquired by Boston Ventures Management in 1997;[8] two years prior, a merger with a group of senior investors fell through due to high interest rates.

[17] In spite of a 2000 relaunch with a new prototype and a slimming down of the menu from 300 items to 80,[18] the company struggled after sales of 19 company-owned units fell through, causing it to default on loan payments.

[3] There were 15 units by 2021, when Ground Round launched another attempt to grow its market share with a beer-focused concept to open inside a Best Western hotel in Waterloo, Iowa.