Wendy’s will shutter a mid‑single‑digit percentage of its U.S. restaurants, equal to roughly 200–350 locations, as part of a turnaround dubbed “Project Fresh.” Here’s the latest for Monday, Nov. 10. [1]
- How many are closing? Wendy’s says a “mid single-digit percentage” of its approximately 6,000 U.S. restaurants will close — about 200–350 stores. No master list has been released yet. [2]
- When will closures happen? The process begins late 2025 and continues into 2026, targeting consistently underperforming locations. [3]
- Why now? In Q3 2025, Wendy’s U.S. same‑restaurant sales fell 4.7%; the company is moving to optimize its footprint and redirect investment to stronger stores. [4]
- What’s Project Fresh? A 4‑pillar plan to revitalize the brand, improve operations, optimize the system, and reallocate capital — announced in October and reiterated on last week’s earnings call. [5]
What’s new today (Nov. 10)
Industry outlets added color to Wendy’s plan this morning, noting the closures are one piece of a broader effort to regain U.S. traffic while competitors posted quarterly gains. Executives also highlighted a sharper marketing focus and a push to win new customers — not just repeat value seekers — under Project Fresh. [6]
How many stores, and where?
Wendy’s guided to a mid‑single‑digit percentage reduction of its U.S. footprint, which translates to roughly 200–350 restaurants given its 5,979 U.S. units at Q3‑end (about 6,000). Specific locations were not disclosed; decisions will be made store‑by‑store among units that have been “consistently underperforming.” [7]
Several reports peg the timing as starting now and running through 2026. Some national and local coverage frames the number around “about 300” closures over the next year, but the company’s official language remains a range tied to performance. Expect announcements to happen locally as franchisees finalize plans. [8]
The sales backdrop: Q3 by the numbers
Wendy’s third‑quarter scorecard helps explain the urgency:
- U.S. same‑restaurant sales (SRS): –4.7%
- Global SRS: –3.7%; Global systemwide sales: –2.6%
- 172 new restaurants opened globally year‑to‑date through Q3 (showing expansion internationally even as the U.S. footprint is being pruned) [9]
The company ended Q3 with 5,979 U.S. and 1,384 international locations (7,363 global). [10]
Wendy’s reiterated its turnaround framework on the earnings call and updated investors on cash flow and capital allocation, including maintaining its regular dividend. [11]
Inside “Project Fresh”
Announced in October, Project Fresh is a system‑wide overhaul with four pillars:
- Brand revitalization — sharpen positioning and marketing effectiveness.
- Operational excellence — improve service, speed, and consistency.
- System optimization — evaluate the restaurant base to focus resources on winners (this is where the closures land).
- Capital allocation — redirect investment to the highest‑return opportunities. [12]
Executives today emphasized telling a value + quality story to attract new guests and highlighted growing digital engagement as a lever within the plan. [13]
Leadership & decision‑makers
The strategy is being led by Interim CEO and CFO Ken Cook, appointed in July after a leadership transition; Cook is overseeing the turnaround while the board continues the search for a permanent chief executive. [14]
What it means for workers, franchisees, and customers
- Franchise‑heavy system: Most U.S. Wendy’s stores are franchised, which means many closure decisions are made in partnership with franchise owners based on local performance and reinvestment opportunities. [15]
- Employees: Staff at closing restaurants are typically offered opportunities to transfer within franchise groups when feasible, though outcomes vary market‑to‑market. (Wendy’s has not released a blanket staffing plan alongside this announcement.)
- Guests: Gift cards, rewards, and the mobile app remain valid system‑wide; if a home store closes, account balances and rewards can be used at nearby locations. (No change to national menu or pricing policy has been announced in connection with closures.)
How to check if your location is affected
Wendy’s hasn’t published a master list. Watch for store‑level notices, local news reports, and updates in the Wendy’s app as franchisees finalize changes in each market. Many local outlets have already begun checking for state‑by‑state impacts as plans roll out. [16]
Context: This isn’t the first pruning
Wendy’s has been trimming underperforming units since last year while opening new restaurants elsewhere — a common industry pattern during a tougher consumer backdrop. In late 2024 the company said it would close roughly 140 U.S. restaurants by year‑end, on top of earlier reductions — a pace that set the stage for today’s larger optimization. [17]
The bottom line
Wendy’s is shrinking to grow: closing 200–350 weaker U.S. stores to reinvest in higher‑performing locations, while pushing a refreshed brand message and operational upgrades. Given softer U.S. traffic in Q3 and a highly competitive value environment, the company is betting that a leaner, stronger footprint — plus better marketing and execution — will restore momentum heading into 2026. [18]
Sources & further reading
- Company materials: Q3 2025 results; restaurant counts and performance metrics; Project Fresh overview. [19]
- Closure range & timing: Nation’s Restaurant News; Fast Company; Newsweek; UPI; Yahoo Finance/USA Today Network. [20]
- Today’s analysis & context: Restaurant Dive; Marketing Dive. [21]
- Leadership: Wendy’s investor relations announcement of Ken Cook as interim CEO. [22]
References
1. www.nrn.com, 2. www.nrn.com, 3. www.fastcompany.com, 4. s1.q4cdn.com, 5. www.irwendys.com, 6. www.restaurantdive.com, 7. www.irwendys.com, 8. www.fastcompany.com, 9. s1.q4cdn.com, 10. www.irwendys.com, 11. finance.yahoo.com, 12. www.irwendys.com, 13. www.marketingdive.com, 14. www.irwendys.com, 15. fintel.io, 16. www.sj-r.com, 17. apnews.com, 18. s1.q4cdn.com, 19. www.irwendys.com, 20. www.nrn.com, 21. www.restaurantdive.com, 22. www.irwendys.com
