2023-05-07 16:36:00
Joshua Kobza, the CEO of Restaurant Brands International, the company that owns the chain Burger King announced that it plans to close 400 restaurants this 2023.
Burger King had an increase in sales of 12.3% globally in the first quarter of this year. And an 8.7% increase in US restaurant sales.
Despite these numbers, Burger King restaurants that failed to meet sales targets will be closed in the coming months.
“We will work with them to get out of the system and do something else. There is simply no place for franchisees who are unwilling or unable to work hard to operate better-than-system-average restaurants over the long term.said Burger King vice president Patrick Doyle.
There are already two Burger King franchisees, Meridian Restaurants Unlimited and TOMS King, that have filed for bankruptcy.
Because of this, they will close 27 of their restaurants in seven states: Minnesota, Montana, Kansas, Nebraska, North Dakota, Utah, Wyoming and Michigan.
In addition, the franchised company EYM will also close 26 Burger King restaurants that it operated. All of these closings will be in Michigan.
On the other hand, in Virginia, the DC Burger company will buy 37 Burger King branches for $22 million. And the firm Karali Group will pay more than $7 million for 27 stores located in Ohio and Pittsburgh.
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