Burger King will close up to 400 stores by the end of the year - with two franchises already declaring bankruptcy - as fast food giant fails to keep up with fast-casual competition
The company says underperforming stores will be the first to go as it announces a historically high number of closures
One bust franchisee is set to shut 27 locations across seven states this year
Chairman Patrick Doyle said the company will slash franchisees who aren't 'dedicated, enthusiastic operators'
By Tilly Armstrong For Dailymail.Com
Published: 17:20 EDT, 4 May 2023 | Updated: 18:48 EDT, 4 May 2023
Burger King has estimated that the fast food giant will have to shutter up to 400 locations across the country this year.
The iconic burger chain said that underperforming stores will be the first to go.
Following the announcement of the company's first quarter results, CEO Joshua Kobza said the chain expects to shut between 300 and 400 locations in 2023.
This is a historic high - the company usually closes a couple of hundred stores annually, Kobza said.
According to its earnings release, Burger King axed 124 locations in the year up to March, leaving 6,964 restaurants.
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https://www.dailymail.co.uk/news/article-12047999/Burger-King-close-400-stores-end-2023-giant-fails-competition.html
