Wendy’s To Close 140 Additional U.S. Restaurants

Wendy’s has announced plans to close 140 U.S. restaurants by the end of this year, adding to the 100 closures it disclosed in May, Dee-Ann Durbin reported, for the Associated Press (AP).

Wendy's had 7,292 restaurants at the end of the third quarter, with over 80% located in the U.S. I Photo: Chris Potter Flickr

On a conference call with investors, Wendy's stated that the closures will be offset by new restaurant openings, with plans to open between 250 and 300 new locations this year.

Wendy’s President and CEO Kirk Tanner noted that the closures target underperforming locations relative to the rest of its portfolio.

Wendy's had 7,292 restaurants at the end of the third quarter, with over 80% located in the U.S. The company’s stock rose as high as 3.5% recently.

“They’re just in locations that don’t build our brand,” Tanner explained.

“Some of these restaurants are quite outdated, given our brand is now 55 years old.”

While Wendy’s did not provide a list of the locations set for closure, Tanner said they are dispersed across the country.

“Our focus is on building new restaurants because they outperform these poor-performing locations on average,” he added. “We ultimately want the best restaurants to deliver an optimal customer experience.”