Wendy’s Plans to Close Hundreds of Restaurants
Wendy’s is planning to shut down between 200 and 350 of its U.S. locations out of approximately 6,000. The interim CEO described these as “consistently underperforming” restaurants that negatively impact the chain's overall results.
The closures will begin shortly and continue through the next year, although no specific list of affected locations has been shared.
“Consistently underperforming” locations are dragging down the chain’s overall performance.
This move follows last year’s announcement when Wendy’s closed 140 restaurants for similar reasons. Recently, Wendy’s reported a quarterly sales decline of nearly 5%, while competitors such as McDonald’s and Burger King showed positive earnings.
Summary
Wendy’s aims to improve performance by closing poorly performing outlets, continuing a trend started last year amid sales challenges and stiff competition.