Denny’s to close 150 restaurants by end of next year

Denny’s expects to close 150 of its underperforming restaurants by the extremity of 2025.

Investors were told Tuesday that galore of those shutterings would hap this year, according to The Associated Press. The closures volition reportedly interaction 10% of each Denny’s locations successful operation.

The institution didn’t denote which restaurants it plans to shutter oregon if those closures are constricted to operations successful the the 50 states.

In 1967, the franchise opened its archetypal planetary eatery successful Mexico and has since dispersed to Europe, South America, Asia, New Zealand and the Middle East. Denny’s has not responded to a petition for clarification.

On Tuesday, Denny’s reported its 5th consecutive 4th of year-over-year diminution among locations unfastened astatine slightest a year. The company’s banal worth dropped astir 18% pursuing that news.

Denny’s investors were told that successful summation to immoderate of its stores being situated successful little than perfect locations, concern owners are dealing with ostentation and the aftermath of the COVID pandemic that changed the mode Americans live.

Denny’s arsenic galore cognize it started successful 1953 arsenic a Lakewood, Calif., java store called Danny’s Donuts, according to the company’s media page. In 1959, the increasing hospitality concatenation changed its sanction to Denny’s Coffee Shop to debar disorder with different L.A. eatery. It officially became known arsenic conscionable Denny’s successful 1961.

Promotional paper items including “Moons Over My Hammy” and the “Grand Slam” meal helped the institution found a niche successful American culture.

Denny’s introduced itself to Manhattan successful 2014 with a Financial District edifice that sold a $300 meal special including Dom Perignon champagne. That eatery closed successful January 2018 due to the fact that it wasn’t “financially sustainable,” according to Eater.

The company’s determination finder shows 34 Denny’s locations presently operating successful New York State, including one successful Jackson Heights, Queens.

Denny’s is conscionable the latest successful a wide scope of brick-and-mortar businesses including restaurants, pharmacies, retailers and convenience stores that person precocious closed underperforming operations nationwide.

With News Wire Services

Originally Published: October 23, 2024 astatine 2:07 p.m.