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Sometimes a business has to shrink to grow, or at least that’s what executives, including Wendy’s CFO Ken Cook, say when they explain why they’re closing businesses.<\/p>\n
“We are focused on improving the economics at the restaurant level, taking a hard look at underperforming restaurants in our system from both a financial and customer perspective, and working with franchisees to improve them, transfer them to another operator or potentially close them,” he said during a meeting with the chain. third quarter earnings reports<\/a>.<\/p>\n Closing up to 350 restaurants, he said, would improve the financial performance of those that remain and leave franchise operators with money to invest in their remaining locations.<\/p>\n Long John Silver’s, an iconic fast-food chain like Wendy’s, is also closing locations, down from more than 1,000 locations in 2015 to less than 500 now, based on The Consumer Edge 2026 Restaurant Outlook<\/a> the report<\/p>\n At its peak, the chain reportedly operated more than 1,400 restaurants Food republic<\/a>.<\/p>\n The company’s senior vice president, Tony Ellis, like Cook, believes the closings, at least those that have occurred in the past three years, have actually put the seafood chain in a strong position to return to growth.<\/p>\n Tony Ellis said SeafoodSource<\/a> that Long John Silver’s has closed “approximately 110 to 120 locations over the past three years.” He said the company now operates 214 company-owned restaurants and about 262 franchised units, which is in line with the total number of businesses. restaurant search page<\/a>.<\/p>\n Long John Silver chief marketing officer Laura Ellis said not all of the closings were related to financial performance.<\/p>\n “We want our restaurant experience to be as positive as our food tastes, so we’ve spent a ton of time remodeling our footprint,” she said. “As you can imagine, our brand has been around since 1969, so some of our restaurants have been in dire need of a facelift. This means some of these restaurants are temporarily closed and some are a departure from the historical strategy.”<\/p>\n Tony Ellis explained that the nearly 70 closings come as the chain exits its joint brands of Taco Bell, KFC and A&W, which he said is in line with a “broad industry trend of large chains increasingly favoring individual brands.”<\/p>\n The network also survived 1998 Chapter 11 bankruptcy<\/a> submission<\/p>\n \u201cThe company listed liabilities of $457.3 million and assets of $329.1 million in a Chapter 11 filing late Monday in U.S. Bankruptcy Court in Delaware. Tampa Times<\/a> reported.<\/p>\n This application was filed in 1989 loan funds<\/a> buyout, which burdened the company with debts.<\/p>\n<\/p><\/div>\n Long John Silver’s footprint has shrunk <\/h2>\n