Wendy's Plans Nationwide Store Closures in Late 2025
Wendy's, a fast-food company based in Dublin, Ohio, currently operates about 6,000 locations across the United States. The company announced it will close approximately 300 stores nationwide, a move following last year's closure of 140 locations.
Details from the Earnings Call
Interim CEO Ken Cook shared during a quarterly earnings call on November 7 that Wendy's will close a “mid single-digit percentage” of its stores. With around 6,000 locations, this translates to roughly 240 to 360 closures. One investor estimated about 300 locations would be shut down.
"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."
Cook explained some struggling stores would receive upgrades to technology or equipment, or be transferred to new operators. Others will be closed completely.
Store Growth and Closures Balance
Wendy's spokesperson Heidi Schauer confirmed that about 250 to 300 new stores were expected to open in 2024. However, following a strategic review, the company now expects closures to match openings, resulting in roughly no net growth in units 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.
Closure Timeline and Michigan Stores
The closures are scheduled to begin in the fourth quarter of 2025. Specific locations for closure have not been publicly announced yet. Wendy's currently has 218 locations in Michigan according to its website.
Author's Summary: Wendy's plans to close around 300 U.S. stores starting late 2025, balancing openings with closures to maintain stable nationwide presence, including 218 locations in Michigan.