Wendy’s Announces Plans to Close Hundreds of Restaurants
Wendy’s intends to shut down a significant number of its locations. The company’s interim CEO revealed that approximately 200 to 350 of its roughly 6,000 U.S. restaurants will close. These closures target “consistently underperforming” sites that negatively impact overall business results.
Closures are set to begin shortly and will extend into next year. However, Wendy’s has not disclosed a specific list of affected locations.
Background on Recent Closures
This move follows the announcement last year when Wendy’s closed 140 restaurants, citing similar performance challenges.
Recent Sales Performance
Wendy’s recently reported a quarterly sales decline of nearly 5%, contrasting with competitors like McDonald’s and Burger King, who reported positive earnings.
“These are ‘consistently underperforming’ locations that are dragging down the chain’s overall performance.”
Such strategic closures aim to stabilize and improve Wendy’s long-term financial health.
Author’s Summary
Wendy’s plans to close 200-350 underperforming U.S. restaurants over the next year to reverse sales decline and strengthen overall performance.
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