Wendy's Plans to Close Approximately 300 Stores Nationwide in Late 2025
Wendy's, the Ohio-based fast-food chain with around 6,000 locations across the United States, announced plans to close a significant number of stores just one year after shutting down 140 locations.
Details from the Earnings Call
Interim CEO Ken Cook informed investors during a quarterly earnings call on Friday, November 7, that the company would be closing a “mid single-digit percentage” of its stores. With about 6,000 locations, this translates to roughly 240 to 360 closures. An investor estimated the figure to be around 300.
"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 explained. "The goal is to address and fix those restaurants."
Closure and Improvement Strategies
In some cases, Wendy's aims to improve struggling locations through upgrades in technology or equipment, or by transferring them to new operators. However, some restaurants will be closed completely.
Store Growth and Closures in 2024
Wendy’s spokesperson Heidi Schauer confirmed that about 250 to 300 new sites were expected to open in 2024. However, after a strategic review, the company now anticipates that the number of closures will roughly match new 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," Schauer stated.
Timeline and Michigan Locations
The closures are expected to begin in the fourth quarter of 2025. No specific list of stores to be closed has been released yet. Wendy’s currently operates 218 locations in Michigan.
Author's summary: Wendy’s plans to close about 300 stores nationwide by late 2025, balancing closures with new openings to maintain stable overall store count.