Wendy’s to Close Hundreds of Restaurants
Wendy’s has announced plans to shut down hundreds of its U.S. restaurants due to weak performance. Interim CEO explained that about 200 to 350 of the chain’s roughly 6,000 U.S. locations will be affected.
“These are consistently underperforming locations that are dragging down the chain’s overall performance,”
The closures are set to begin soon and will continue into next year, although a detailed list of affected restaurants has not yet been released.
This decision follows last year’s closure of 140 outlets for similar reasons. The company’s recent quarterly report showed a sales decline of nearly 5%, while competitors such as McDonald’s and Burger King posted positive results.
Summary
Wendy’s will shut down up to 350 underperforming U.S. outlets through next year after another weak quarter and growing pressure from stronger competitors.