Wendy’s Announces Major Restaurant Closures
Wendy’s is set to close 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 have negatively impacted overall performance.
Details of the Closure Plan
- The closure process will begin soon and continue into next year.
- No specific list of affected locations has been released.
- This follows last year’s closure of 140 restaurants for similar reasons.
Financial Impact and Industry Context
Wendy’s recently experienced a nearly 5% decline in sales during a quarter, while competitors like McDonald’s and Burger King reported positive earnings.
“These are ‘consistently underperforming’ locations that are dragging down the chain’s overall performance,” the interim CEO told analysts.
Author’s summary: Wendy’s plans a significant reduction of underperforming U.S. restaurants, aiming to improve financial health after a recent sales decline amid competitors’ growth.