Burger King to Close 400 Stores Nationwide
Burger King is closing 400 stores nationwide by the end of 2023.
It is unclear which locations will be closing down.
TODAY reported:
The popular fast food chain Burger King plans to close up to 400 restaurants before the end of 2023, TODAY.com confirmed.
This week, the CEO of Restaurant Brands International Inc., which owns Burger King, said they are preparing to close between 300 and 400 locations.
The CEO, Joshua Kobza, said in a call announcing Q1 earnings results, that the company “historically” closes “a couple hundred” Burger King restaurants each year.
So far this year, several large Burger King franchisees have filed for bankruptcy: Illinois-based Toms King, Michigan-based EYM King, and Utah-based Meridian Restaurants Unlimited.
According to a Restaurant Brands International release announcing the earnings, 124 Burger Kings have already shuttered this year, bringing the total number in the United States to fewer than 7,000.
Kobza said in the call that the company plans to focus on working with smaller franchisees to “improve the overall health” of the company’s franchise system.
Last month McDonald’s temporarily shut its US offices as it prepared for corporate layoffs.
“During the week of April 3, we will communicate key decisions related to roles and staffing levels across the organization,” McDonald’s said in an internal email viewed by The Wall Street Journal.
McDonald’s corporate employees were asked to work from home for that week as it made announcements related to staffing and company restructuring.
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