LOUISVILLE, July 30, 2026, 04:17 EDT – Long John Silver’s now operates 479 outlets, a smaller network than before, but the company’s estimated sales per store have jumped 32%.
- Long John Silver’s closed 2025 operating 479 outlets, a drop of 23 compared with the previous year.
- Initial estimates show that annual system sales per restaurant increased by roughly 32% compared to 2022.
- About 80% of the reported closures involved franchised locations, compared to around 55% of the existing estate.
Long John Silver’s shut down roughly 30 locations across 18 states in 2025. Despite the smaller store count, system sales increased as the brand’s footprint was reduced.
The split signals a message to investors. While the chain reduces its number of locations, remaining restaurants are reporting higher sales density.
As of 04:17 EDT, standard U.S. equity markets were shut ahead of Thursday’s opening. Electronic premarket trading continued. Long John Silver’s is privately held, so its shares were unaffected.
| Scale and productivity | 2022 | 2025 | Change |
|---|---|---|---|
| Year-end restaurants | 589* | 479 | -18.7% |
| Reported system sales | About $400 million | Nearly $430 million | About +7.5% |
| Preliminary sales per year-end restaurant | About $679,000 | About $898,000 | About +32.2% |
The number of restaurants in 2022 is estimated using 479 locations for 2025 and 110 net closures since the beginning of 2023. Restaurant sales are represented by a preliminary proxy, not the company’s stated average unit volume, and reflect year-end counts instead of the average for the year.
The estimate may be affected by the timing of closures and temporary shutdowns for remodeling. The comparison is also influenced by new openings within each year.
Nevertheless, this aligns with the trend indicated by management. Company executives pointed to 16 straight quarters of comparable-sales increases through mid-2026.
Over 115 restaurants have undergone remodeling, with plans in place for approximately 100 more renovations in the coming two years.
Spokesperson Laura Ellis stated the closures were “individual market decisions and not part of a broad-based closure initiative.” Fast Company
| 2025 closure locations listed | Number of restaurants | Proportion of reported closures |
|---|---|---|
| Ohio | 5 | 16.7% |
| Arizona | 3 | 10.0% |
| Texas | 3 | 10.0% |
| Colorado, Connecticut, Nebraska and New York | 8 | 26.7% |
| One closure each across eleven states | 11 | 36.7% |
| Total | 30 | 100% |
The state-by-state information is based on locations listed in coverage of the June franchise disclosure document.
Ohio, Arizona and Texas accounted for 11 shutdowns, representing about 37% of the overall total. Another 19 closures were distributed among 15 other states.
| Ownership comparison | Projected estate for June 2026 | Portion of estate | Announced closures in 2025 | Proportion of closures |
|---|---|---|---|---|
| Franchised | Approximately 262 | Approximately 55% | 24 | 80% |
| Company-owned | 214 | Approximately 45% | 6 | 20% |
| Total | Approximately 476 | 100% | 30 | 100% |
The estate totals and numbers of closures are based on separate reporting periods. The comparison is meant to provide an indication and should not be interpreted as an official closure rate.
This represents the more pronounced caution. Franchise locations accounted for 80% of the reported closures, even though they make up roughly 55% of the total portfolio.
Since 2023, the owner has also bought nearly 40 restaurants from franchisees. This move heightens its direct involvement with restaurant margins, lease obligations, and renovation costs.
| Relevant operating comparison | Long John Silver’s | Wingstop NASDAQ:WING |
|---|---|---|
| Franchised share | Roughly 55% | Approximately 98% |
| Latest unit trend | -4.6% net in 2025 | +16% year-over-year for Q2 2026 |
| Comparable-sales signal | 16 straight quarters with gains | -7.5% in U.S. sales for Q2 |
| Sales-per-unit measure | Approximately $0.90 million preliminary proxy | $1.9 million domestic AUV |
The per-unit sales metrics are not exactly equivalent. Wingstop publishes its official domestic average unit volume; Long John Silver’s number serves as an early proxy for year-end results.
Wingstop serves as a relevant public benchmark. Domestic comparable sales declined by 7.5%, while the number of its restaurants increased by 16%.
Wingstop stock rose 3.4% on Wednesday after the company reported higher adjusted earnings and EBITDA. The share increase indicates that investors prioritized profitability and growth even as restaurant traffic declined.
Fresh reports in the past week renewed attention on the June disclosure. The next update to the public is imminent. Yum! Brands NYSE:YUM, the previous owner, will release results Thursday at 7:00 a.m. EDT. Restaurant Brands International NYSE:QSR will announce on August 6.
Risks: In 2025, U.S. retail seafood prices averaged $10.52 per pound, which was 47% higher than beef and over three times the price of chicken. FoodserviceResults CEO Darren Tristano said, “Traffic is slowing to fast food as families are forced to eat more meals prepared at home.” Retail price averages do not indicate procurement costs for Long John Silver’s. SeafoodSource
The next challenge for investors is unit economics. Increased sales density needs to drive franchise returns and fuel new openings. For now, this continues to be a productivity-focused turnaround rather than a narrative of growth.
