Wendy’s Plans Major Restaurant Closures
Wendy’s is preparing to shut down hundreds of its restaurants across the United States. The company’s interim CEO shared this estimate with analysts, indicating that approximately 200 to 350 locations will be closed out of roughly 6,000 U.S. restaurants.
Reasons for the Closures
The CEO described the targeted restaurants as “consistently underperforming” and responsible for dragging down the overall performance of the chain. The closures are set to begin soon and will continue throughout the next year.
Previous Closures and Current Context
This move follows last year’s announcement when Wendy’s closed 140 locations for similar reasons related to underperformance. The restaurant chain recently reported a nearly 5% drop in sales for the quarter, while competitors like McDonald’s and Burger King recorded positive earnings.
Wendy’s interim CEO said these closures are due to “consistently underperforming” locations that impact the chain’s overall results.
Uncertain Details
No specific list of closing locations has been released yet.
Summary: Wendy’s interim CEO announced plans to close 200–350 underperforming U.S. restaurants over the next year, continuing efforts to improve overall sales amid increased competition.