Wendy’s Plans Restaurant Closures
Wendy’s announced plans to close between 200 and 350 of its approximately 6,000 U.S. locations. The chain’s interim CEO explained these moves target “consistently underperforming” restaurants that negatively impact overall performance.
Closure Timeline and Impact
The closures are set to begin shortly and will continue into next year. A detailed list of affected restaurants has not been released.
Previous Closures and Financial Performance
This decision follows last year’s closure of 140 locations for similar reasons. Recently, Wendy’s reported a quarterly sales decline of nearly 5%, contrasting with positive earnings reported by competitors like McDonald’s and Burger King.
“Consistently underperforming” locations are dragging down the chain’s overall performance.
Summary: Wendy’s is addressing ongoing underperformance by closing hundreds of U.S. restaurants to improve its financial health amid sales declines.