Wendy’s Plans to Close Hundreds of Restaurants
Wendy’s is set to close hundreds of its restaurants across the U.S. The company’s interim CEO revealed that about 200 to 350 locations will shut down. These restaurants have been consistently underperforming and negatively impacting the chain’s overall results.
The closures are scheduled to begin soon and will continue into next year. However, no specific list of affected locations has been made public.
This move follows last year’s announcement of 140 store closures due to similar performance issues. Wendy’s recently experienced a sales decline of nearly 5% in one quarter, while competitors like McDonald’s and Burger King reported positive earnings.
These are “consistently underperforming” locations that are dragging down the chain’s overall performance.
Impact on Wendy’s Business
- Approximately 200 to 350 restaurant closures planned
- Closures to start soon and continue through next year
- Locations chosen due to consistent underperformance
- Last year, 140 locations were closed for similar reasons
- Recent quarterly sales fell by nearly 5%
- Competitors like McDonald’s and Burger King posted positive earnings
Summary
Wendy’s is implementing a significant restaurant closure plan to cut underperforming locations and improve overall business results amid recent sales declines.