Wendy’s to Close Hundreds of U.S. Restaurants to Boost Profits
Wendy’s announced plans to close hundreds of U.S. restaurants in the coming months as part of an effort to boost profits and make its remaining stores more appealing to customers. According to The Associated Press , the…
Wendy’s announced plans to close hundreds of U.S. Restaurants in the coming months as part of an effort to boost Profits and make its remaining stores more appealing to customers.
According to The Associated Press, the Dublin, Ohio-based Chain said in a Friday investor call that it would begin closing locations in the fourth quarter, affecting a “mid-single-digit percentage” of its U.S. stores. With 6,011 U.S. locations at the end of the third quarter, a 5% reduction would mean roughly 300 closures.
“When we look at the system today, we have some Restaurants that do not elevate the brand and are a drag from a franchisee’s financial performance perspective. The goal is to address and fix those Restaurants,” said interim CEO Ken Cook, who took over in July.
Cook said struggling