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Wendy’s to close hundreds of restaurants as struggling customers cut back on dining out (www.independent.co.uk)

submitted 4 days ago by MicroWave@lemmy.world to c/economics@lemmy.world

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Wendy’s is set to close hundreds of restaurants as customers struggling financially cut back on dining out.

Interim CEO Ken Cook announced on an earnings call Friday that the fast food chain will close a “mid single-digit percentage” of locations. With about 6,000 restaurants, Wendy’s could shutter between 200 to 350 locations.

Cook said some restaurants are expected to close as early as later this year, and locations will continue to shutter in 2026.

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[–] stolenfat@lemmy.zip 3 points 3 days ago

A new business could take it's place if landlords would lower the cost of the rent after it sits empty for a while. I hear they often do not as lowering the rent lowers the building value.