Bad news for Rascal Flatts fans: After many years of hype and speculation, the group will not be getting their own restaurant chain after all.

On Friday (Jan. 11), shared on Instagram the news that Rascal Flatts-branded restaurants won't be opening for business. In a note to their fans, the country trio explains that they had licensed their name to a restaurant developer "a few years back," and now, the project "is no longer happening.

"[We] never participated in the ownership or development of the restaurants in any way," Rascal Flatts write. "We ended the agreement and do not have a business relationship with the developer. They are not authorized to use our name in any way.

"We wanted to be transparent to our fans," the band adds, "in case there was any confusion related to our involvement in the restaurants."

News of a potential Rascal Flatts restaurant chain first began circulating in 2012; at that time, the plan was for the first of the eateries to open in Phoenix, Ariz., in 2013, with more locations following. In 2016, it was reported that a location was being planned in Cleveland, Ohio, while in 2017, a location was rumored to be coming in Los Angeles.

Rascal Flatts recently released a new EP, Jukebox, that takes a look back at four classic hits and offers the trio's own trademark spin on the iconic tunes. Despite their release of new music, the group has stated that they're not necessarily planning a full-length album anytime soon.

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