Wendy’s Plans to Close Hundreds of Restaurants
Wendy’s announced plans to close between 200 and 350 of its roughly 6,000 U.S. locations. The interim CEO identified these as "consistently underperforming" restaurants that negatively impact the chain’s overall results.
Details of the Closures
The closures are set to begin soon and will continue into next year. However, Wendy’s has not released a specific list of which locations will be affected.
Context and Recent History
This move follows last year’s announcement when Wendy’s closed 140 restaurants for similar underperformance reasons. The latest quarter saw Wendy’s sales decline by nearly 5%, while some competitors like McDonald’s and Burger King reported positive earnings.
Wendy’s interim CEO explained these are “consistently underperforming” locations dragging down overall performance.
Wendy’s continues to reshape its portfolio to improve financial health amid a challenging market.
Summary: Wendy’s aims to shut hundreds of underperforming U.S. locations within the next year to address declining sales and boost overall performance.