Wendy's Plans to Close Approximately 300 Stores Nationwide by Late 2025
Wendy's, the Ohio-based fast-food chain with around 6,000 locations across the U.S., announced plans to close a “mid single-digit percentage” of its restaurants. This means roughly 240 to 360 stores will shut down, with some estimates pinning the number near 300.
Reasons for Closures
Interim CEO Ken Cook explained during a November 7 earnings call that some locations are underperforming and negatively impacting the brand and franchisees financially. The company aims to either improve these restaurants through new technology or equipment, transfer ownership, or close them entirely.
"When we look at the system today, we have some restaurants that do not elevate the brand and are a drag from a franchisee financial performance perspective," said Ken Cook. "The goal is to address and fix those restaurants."
New Openings and Net Growth Outlook
In 2024, about 250 to 300 new Wendy's sites were expected to open, but after a strategic review, the company now anticipates a nearly equal number of closures and openings, resulting in flat net unit growth for the year.
"After our strategic review, we now expect a similar number of closures as openings, so we expect net unit growth in 2024 to be roughly flat," said spokesperson Heidi Schauer.
Timing and Michigan Store Count
- Store closures will begin in the fourth quarter of 2025.
- No official list of closing locations has been released.
- Wendy's operates 218 locations in Michigan, according to its website.
Summary
Wendy's plans to close around 300 underperforming stores by late 2025, balancing closures with new openings to maintain stable overall growth.
Would you like the summary to be more detailed or concise?