daring dude
FULL MEMBER
- Joined
- Jul 22, 2013
- Messages
- 836
- Reaction score
- 0
- Country
- Location
Wendy's announced late Wednesday afternoon that they decided to sell 640 company-owned restaurants located throughout the United States and Canada, as well as their bakery in Zanesville, Ohio.
Wendy's CEO Emil Brolick said in a statement:
"Going forward, we intend to buy and sell restaurants opportunistically to act as a catalyst for growth by further strengthening our franchise base, driving new restaurant development and accelerating Image Activation adoption."
First quarter sales for the famous restaurant chain actually rose 3.2 % but earnings dropped 40 %. The sale of the restaurants is expected to generate about $475 million in cash.
5 News asked some of you if you were concerned about the announcement.
“I know recently they had partnered with CORE, our local OPO for organ donation and were helping sponsor some services there, so yes, it would be somewhat of a concern,” says Lost Creek resident Cindy Osborne.
"I think it would be good to see less of these fast food chains, more organic chains and, like I said, 'Where's the Beef?'," adds Eric Higginbotham of West Union.
Wendy's plans to sell 380 restaurants this year and another 260 in 2016.
WDTV.COM 5 News: Wendy's Selling 640 Restaurants and Bakery