The most recent set of closures will impact Florida, New York, and Nebraska.
The fast food giant's parent company, Restaurant Brands International, announced earlier this year that it planned on shutting down between 300 and 400 shops that it deemed "unviable"
As Business Insider reports, 26 Michigan locations were closed in March, with a further 27 in other states such as Utah and Minnesota following suit in April.
The most recent set of six store closures will impact Florida, New York, and Nebraska, where some restaurants have been open for over 40 years. In the Empire state, at least one of the locations is expected to be taken over by direct competitor McDonald's.
In 2022, Burger King executives announced a $400 million "Reclaim the Flame" plan in an effort to keep up with other chains that were continuously outperforming them.
The goal was to improve successful locations and close those that were not doing as well, and as CNBC reports, data from the company appears to show that it's having an effect. During the latest earnings call, it was revealed that same-store sales grew 7.2 percent over last year, with 2.8 percent fewer locations.
"Back in the last few quarters, we had been behind the industry in terms of our same-store traffic," Restaurant Brands CEO Josh Kobza explained, "and that's been progressively getting better every quarter since last year."
He went on to say it was a "big milestone" for Burger King to go from where it was in 2022 to "flat traffic."
"Over the past few quarters, we prioritized the most distressed situations, closing unviable restaurants and cleaning up a number of portfolios," CFO Matthew Dunningan added.
Restaurant Brands has indicated that it will have most of its permanent closures finalized by the end of 2023.
According to the Motley Fool, Burger King had 7,105 locations in the US as of 2021.
Powered by The Post Millennial CMS™ Comments
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
Comments