Denny’s to Close 70 to 90 Restaurants This Year
Strategic Plan to Slash Underperforming Locations
Denny’s, a beloved American diner chain, has announced plans to close 70 to 90 restaurants this year as part of its strategic plan to eliminate underperforming locations. This decision is a part of a larger plan to cut 150 restaurants by the end of the 2025 fiscal year.
Previous Closures
In October, Denny’s announced that it would close 50 locations by the end of 2024 and the remaining 100 locations in 2025. The company has already closed 88 locations last year, with 30 more locations shut down in the last quarter.
Current State of the Chain
Denny’s has been in business for over 70 years, with a current total of 1,326 locations nationwide. California has the largest number of locations, with 354 Denny’s restaurants.
Other Chains Follow Suit
Denny’s announcement comes as other chains have also announced mass closures. Party City, a leading retail chain, has announced it will close all 700 stores nationwide due to financial pressures. Retail giant Macy’s has also announced plans to close 150 underperforming stores over the next three years. Kohl’s, another retail chain, has announced plans to shut down 27 stores.
Conclusion
Denny’s decision to close 70 to 90 restaurants this year is part of a larger effort to revamp its business strategy and eliminate underperforming locations. While this may be a difficult decision for some, it is a necessary step to ensure the long-term success of the chain. As other chains follow suit, it remains to be seen how this wave of closures will impact the retail industry as a whole.
FAQs
* How many Denny’s locations will close this year? 70 to 90 locations.
* How many Denny’s locations does Denny’s currently have? 1,326 locations nationwide.
* Why is Denny’s closing underperforming locations? To revamp its business strategy and eliminate underperforming locations.
* Which other chains have also announced mass closures? Party City, Macy’s, and Kohl’s.
