Wendy's to Close Around 300 Stores Nationwide in Late 2025
Wendy's, the fast-food chain headquartered in Dublin, Ohio, currently operates about 6,000 locations across the United States. The company plans to close a “mid single-digit percentage” of its stores, which translates to roughly 240 to 360 closures nationwide.
Details from the Earnings Call
Interim CEO Ken Cook announced during a quarterly earnings call on November 7 that the decision follows the closure of 140 locations just a year ago. One investor estimated the number of closures at about 300 stores.
"When we look at the system today, we have some restaurants that do not elevate the brand and are a drag from a franchisee financial performance perspective. The goal is to address and fix those restaurants."
Cook explained that some stores will see upgrades in technology or equipment, or be transferred to new operators, while others will be permanently closed.
2024 Openings and Closures Balance Out
Wendy's spokesperson Heidi Schauer confirmed that around 250 to 300 new locations were expected to open in 2024. However, following a strategic review, the number of closures is expected to be about the same as the openings, resulting in roughly flat net unit growth next year.
"After our strategic review, we now expect a similar number of closures as openings, so we expect net unit growth in 2024 to be roughly flat."
Impact in Michigan
While a list of stores set to close has not been released, Wendy's currently has 218 locations in Michigan, according to its website.
The planned closures are expected to begin in the fourth quarter of 2025.
Author's Summary
Wendy's will close about 300 stores nationwide by late 2025, balancing out new openings to keep its total number of locations stable.