Regulation and taxes ran them out of business.
Yep, in addition to all of the fast food joints that remain open 24/7 and serve what passes for breakfast.
I owned a restaurant, bar hotel in the 70s, before MAD, when insurance rates were reasonable and profits were good. Since the 80s that business is too tough {I sold in the early 80s for a nice profit} and you couldn't give me one today.
Too many regulations and no fun and little profit left in it.