It didn't go out of business in '97, I was 1000% there for a birthday party in 2000 or 2001. It seems the company went bankrupt in 1997, and the assets were sold multiple times over the years. Locations stayed open, and, according to Google at least, there seems to be at least a couple left in Ohio, and California?
Either way, this took me down a nice nostalgia hole, very nice.
I was pretty sure Q-Zar continued to exist well after 1997, so I checked, and yeah, there continued to be Q-Zar locations after the 97 bankruptcy of one of the companies involved.
This location in NY has diversified into Axe Throwing