124 Burger Kings have already shuttered this year
Cookeville – The Kingdom may be in decline. Burger King, once the second most popular fast-food chain in the world, is expected to soon shutter between 300 and 400 stores, Restaurant Brands International who owns Burger King announced in a recent earnings call. CEO Joshua Kobza said the company “historically” closes “a couple of hundred” Burger King restaurants each year. But the total number of closures this year may be cause for concern for investors and ownership alike.
According to reports, many Burger King franchisees have filed for Bankruptcy this year.
“Our teams delivered a solid start to the year, with double-digit comparable sales and system-wide sales growth, said Restaurant Brands International Inc. in the earnings announcement. “Top line sales momentum translated into bottom line growth for our franchisees and our company. I am confident in our plans for future growth and would like to thank our teams who are focused on improving operations and delivering a great guest experience every day at our restaurants.”
124 Burger Kings have already shuttered this year, according to the announcement, bringing the total number of Burger King restaurants in the United States to fewer than 7,000. According to Kobza, the company plans to focus energy on smaller franchisees and that there is uncertainty regarding numbers of future closures.
No shuttered locations were named, and no timeline was given on the closures.
Image by Freepik.
