Restaurant Brands International (RBI) is planning to close up to 400 Burger King restaurants this year in an effort to cull underperforming assets from the fast-food chain.
"We'll work with them to leave the system and move on to do something else. There is simply no room for franchisees who are not willing or able to work hard to operate restaurants that are better than the system average over the long term," Patrick Doyle, RBI chairman, declared in a Q1 earnings call.
Since the beginning of the year, two major Burger King franchisees have filed for bankruptcy, each citing weak store traffic and higher operating costs.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
