US EditionMajor Fast Food Chain to Close Hundreds of Restaurants Across U.S.
Wendy's plans to close 200 to 350 underperforming U.S. locations by 2026 to boost profitability and enable franchisees to invest more in remaining restaurants, CEO said.
- Interim CEO Ken Cook told investors Friday that Wendy's plans to close a "mid single-digit percentage" of its approximately 6,000 U.S. locations, about 200 to 350 restaurants, starting this year through 2026.
- Faced with lagging units, the company argues `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` after last year's closure of 140 locations, Wendy's is planning to close 200-350 restaurants by 2026.
- Amid weak sales, company data show U.S. same-store sales declined 4.7% while rivals McDonald's, Burger King and Shake Shack posted gains, though Tendys sold out before advertising.
- For franchisees, the plan should allow reinvestment in remaining restaurants to boost nearby sales and profitability, though Wendy's has not released a specific list of locations.
- Wendy's is also weighing surge pricing, a demand-based pricing model used in airlines and ride-hailing, though some observers criticized it as unlikely to succeed and possibly deterring customers.
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BizTocWendy's Set To Close Hundreds of US Restaurants: What We Know
Fast food chain Wendy's is set to close hundreds of restaurants around the country. CNN are reporting that in a call on Friday, Interim CEO Ken Cook told analysts a “mid single-digit percentage” of approximately 6,000 US locations could close, which amounts to between 200 and 350 ...
By Jordan Valinsky, CNN - Wendy's will close hundreds of locations across the United States as part of its restructuring plan. Interim CEO Ken Cook announced Friday that a "mid-single-digit percentage" of Wendy's approximately 6,000 U.S. locations could close, which would amount to between 200 and 350 restaurants. The affected locations are those that "consistently underperform" and negatively impact the chain's overall performance, Cook told an…
The Independent
The Independent (US)Wendy’s to close hundreds of restaurants
Wendy’s could shutter between 200 to 350 locations
Wendy's to close hundreds of restaurants - WNKY News 40 Television
(CNN, WGCL) – A fast-food chain is planning to close hundreds of its restaurants. The interim CEO of Wendy’s announced a percentage estimate amount, which would equate to about 200 to 350 closures of the chain’s 6,000 U.S. locations. He told analysts these are “consistently underperforming” locations that are dragging down the chain’s overall performance. The closures will start soon and continue through next year. A specific list of locations w…
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