Wendy's to Close 140 Locations

Wendy's to Close 140 Locations

Fast food giant Wendy's is slated to close 140 locations. 

The news comes on the heels of chain restaurant Denny's recent announcement of impending store shutterings.

Wendy's revelation came during the company's November Q3 2024 earnings call in which Wendy’s president and CEO Kirk Tanner stated, “We want to further improve our restaurant footprint and overall system health.”

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During the call, Tanner explained that his decision to close so many restaurants is one that is “strategic” in identifying “outdated and underperforming trade areas," reported Parade.com.

“We have designed this initiative to ensure that over time, many of these units will be replaced by new restaurants at better locations with significantly improved sales and profitability,” Tanner explained. “We anticipate that total closures in 2024, including additional closures in the fourth quarter, will be offset by new restaurant openings this year, leaving our net unit growth approximately flat compared to the prior year.”

Parade continued: 

"Aside from the storefronts that are designated to be shuttered, Wendy’s has actually been experiencing a positive growth trend as of recently. The popular fast food restaurant introduced a brand new breakfast menu, a number of seasonal Frosty creations and a whole new line of saucy chicken nuggets. And despite the 140 scheduled store closures, Wendy’s has continued to open new locations globally to this day."

Wendy’s is a 55-year-old brand with over 7,100 locations scattered across the world, and Parade said the company spokesperson with Wendy’s claimed that by the end of this year, the brand will have opened “more than 500 new restaurants over the last two years” and have the confidence to “deliver elevated growth in 2025 and the years to come.”