Wendy’s Announces Closing of Hundreds of Restaurants
Wendy’s plans to shut down between 200 and 350 of its approximately 6,000 U.S. locations, according to the company's interim CEO. These closures target consistently underperforming restaurants that negatively affect the brand's overall results.
Details of the Closures
The restaurant chain expects the closures to begin soon and continue into next year. No specific locations have been disclosed yet.
Background on Recent Closures and Performance
This announcement follows last year’s decision to close 140 underperforming stores. Recently, Wendy’s reported a nearly 5% decline in quarterly sales, while competitors like McDonald’s and Burger King achieved positive earnings.
Wendy’s interim CEO explained that the closing locations are “consistently underperforming” and harming the chain’s overall performance.
Industry Context
- Wendy’s has around 6,000 restaurants in the U.S.
- Closures aim to strengthen the chain’s financial health.
- Rivals McDonald’s and Burger King posted positive earnings in the same period.
Summary: Wendy’s is closing hundreds of underperforming restaurants to improve overall performance amid a recent sales decline.
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