Wendy's Plans to Close Approximately 300 Stores Nationwide in Late 2025
Wendy's, the Ohio-based fast-food chain with about 6,000 locations across the U.S., announced plans to close hundreds of stores nationwide. This decision follows the closure of 140 locations just last year.
Details from the Earnings Call
Interim CEO Ken Cook revealed on a November 7 earnings call that the company will close a “mid single-digit percentage” of its outlets. This translates to roughly 240 to 360 store closures. One investor suggested the number would be near 300 locations.
"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," Cook stated. "The goal is to address and fix those restaurants."
To improve these locations, Wendy's may upgrade technology and equipment, transfer struggling stores to new operators, or close them entirely.
New Openings and Closures Balance Out in 2024
Wendy’s spokesperson Heidi Schauer confirmed to USA TODAY that about 250 to 300 new stores were expected to open in 2024. However, after a strategic review, the company now expects closures to match openings, resulting in roughly flat net unit growth for 2024.
"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," Schauer said.
Michigan Locations
Wendy’s operates 218 locations in Michigan, according to its website. No specific information has been given about whether any of these Michigan stores will be among those closing.
Closure Timeline and Location Details
- Closures are expected to begin in the fourth quarter of 2025.
- A list of the stores planned for closure has not yet been released.
Author's summary: Wendy’s plans to shutter roughly 300 underperforming stores nationwide by late 2025, aiming to balance closures with new openings and maintain its brand strength.