Wendy’s to close hundreds of restaurants as struggling customers cut back on dining out
Wendy’s to close up to 350 locations from this year
- Wendy's plans to close between 200 and 350 restaurants, representing a "mid single-digit percentage" of its 6,000 locations.
- Interim CEO Ken Cook announced the closures, which are expected to begin later this year and continue into 2026.
- The decision is attributed to customers, particularly lower-income consumers, cutting back on dining out due to financial pressures.
- The fast-food chain reported a net income of $44.3 million, down from $50.2 million last year, with its shares dropping 2.6 per cent on Friday.
- The closures aim to boost sales and profitability at remaining locations amidst wider concerns about the cost of living and inflation in the US.