7 sources·Business

Wendy's Announces Closure of 140 Underperforming Restaurants Amid Expansion Plans

Wendy's to close 140 more U.S. locations, adding to previous closures, while planning to open up to 300 new restaurants this year.

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Updated: Nov 1st, 2024, 8:28 PM ET

Summary

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Wendy's will close 140 more locations by year-end, in addition to 100 closures announced earlier. CEO Kirk Tanner emphasized these are underperforming sites. The company plans to open 250-300 new restaurants this year, focusing on enhancing customer experience and profitability. Despite the closures, the strategy aims to adjust the brand's portfolio for long-term growth amid challenging economic conditions. Wendy's had over 7,292 locations, primarily in the U.S., and is responding to minimal sales growth as consumers resist rising prices.

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