For weeks now, we have been reporting on the mysterious closings of five Walmarts across the country.
2,200 Walmart employees at five stores in different cities were laid off last Tuesday and given just a few hours notice. Walmart claimed that the stores had to be closed due to plumbing issues, but many have questioned this explanation since all the stores were located in different parts of the country.
In the wake of the Walmart closings, many other national chains have announced some serious closings as part of the “retail apocalypse.” On Wednesday, Wendy’s announced that they too would be selling 640 restaurants in an attempt to reduce the number of company-owned locations.
According to CNN, Wendy’s plans to sell 380 restaurants this year and 260 in 2016. Their stock rose 7% after they announced the news.
CEO Emil Brolick told the press that the goal is to “drive further growth opportunities for expanded restaurant ownership to strong operators.”
In addition, Wendy’s will be selling their bakery in Zanesville, Ohio where they make their buns.
This announcement comes after fast food restaurants saw a serious dip in sales over the last few years as Americans turned to healthier options. McDonald’s recently announced that they would be closing 700 stores across the country, which shows just how desperate the situation is for fast food restaurants.
Do you think Wendy’s made the right call? Let us know your thoughts in the comments section.