Wendy’s to Close 140 ‘Underperforming’ Fast-Food Restaurants
Company Announces Plan to Shut Down Underperforming Locations
Ohio-based fast-food chain Wendy’s will close more than 100 “underperforming” restaurants by the end of 2024, officials announced during an earnings call Thursday.
Competition in the Fast-Food Industry
The announcement comes as popular fast-food chains like Wendy’s, McDonald’s and Burger King work to earn customers back through value meal deals and discounts.
Reasons for Closure
The closures were based off a “robust review” of individual restaurants, Wendy’s President and Chief Executive Officer Kirk Tanner said. Tanner went on to say that the restaurant closures are outdated and in “underperforming areas.”
Closure Timeline
According to Tanner, the closures, which amount to approximately 140 restaurants, were accelerated. “These are closures that would have happened in ’25, ’26 and ’27,” officials said during the call, adding that the same number of stores were expected to open by the end of the year.
New Menu Offerings
The chain also announced new menu offerings on the call, including a new Salted Caramel Frosty, and the “return of the customer-favorite Mushroom Bacon Cheeseburger.”
Previous Collaborations
Earlier this year, Wendy’s launched “Krabby Patties” on menus as part of a SpongeBob SquarePants collaboration.
Conclusion
Wendy’s is taking steps to revamp its menu and locations, closing underperforming restaurants and introducing new offerings to attract customers. While the exact locations of the closing stores have not been disclosed, the company is expected to open a similar number of new locations by the end of 2024.
FAQs
* How many Wendy’s locations will be closing?
+ Approximately 140 restaurants
* When are the closures expected to take place?
+ By the end of 2024
* Why are the locations closing?
+ The closures are based on a “robust review” of individual restaurants, and the locations are considered outdated and underperforming
* What new menu offerings were announced?
+ New Salted Caramel Frosty and the return of the Mushroom Bacon Cheeseburger
* Are there any other collaborations planned?
+ Earlier this year, Wendy’s launched “Krabby Patties” on menus as part of a SpongeBob SquarePants collaboration
