Wendy’s to Close Hundreds of Stores: Impact on Ohio?
Wendy’s, the well-known fast-food chain, is set to close hundreds of stores, impacting its Ohio locations significantly. This decision comes after the closure of 140 restaurants just last year. During a quarterly earnings call on November 7, Interim CEO Ken Cook shared the company’s plans with investors.
Wendy’s Store Closures Overview
Ken Cook announced that Wendy’s would close a “mid single-digit percentage” of its locations. With nearly 6,000 restaurants currently operating across the U.S., this could translate to approximately 240 to 360 closures. One investor projected around 300 closures during the earnings call.
Reasons for the Closures
Cook indicated that the closures aim to enhance the brand and rectify issues affecting franchisee financial performance. Key reasons include:
- Some restaurants do not elevate the brand.
- Struggling locations may undergo improvements or transfer to new operators.
- Others may be closed entirely.
Impact on Ohio
Ohio is home to 398 Wendy’s locations, according to the company’s website. The distribution includes:
- Five in Akron
- Seven in Canton
- 23 in Cincinnati
- 33 in Columbus
Details on which specific locations will close have yet to be disclosed. The expected timeline for these closures is set for the fourth quarter of this year.
