Wendy’s Plans to Close Hundreds of Restaurants
Wendy’s is preparing to shut down hundreds of its U.S. restaurants. The chain’s interim CEO revealed that approximately 200 to 350 locations will be closed out of around 6,000 nationwide.
Reason for Closures
The CEO described these restaurants as “consistently underperforming” and stated they negatively affect the overall company results. The closures are set to begin soon and will continue into next year.
Previous Closures and Sales Impact
This follows a similar move last year when Wendy’s closed 140 locations for comparable performance issues. The most recent quarter reported a nearly 5% drop in sales.
Industry Context
In contrast, some competitors like McDonald’s and Burger King experienced positive earnings during the same period.
Wendy’s interim CEO said the closed locations are “consistently underperforming” and harming the chain's overall performance.
Author’s summary: Wendy’s will close 200 to 350 underperforming U.S. restaurants starting soon, continuing through next year, following previous closures and recent sales declines.