US EditionFast-food chain says it’s closing up to 200 locations after announcing expansion to Michigan
- Jack in the Box announced plans Wednesday to close 150 to 200 underperforming locations and explore selling Del Taco.
- The company faces problems including rising inflation, tough competition, and struggles requiring a broader overhaul.
- Sales dipped across the chain, Del Taco results dropped, and the company's stock price plunged significantly.
- CEO Lance Tucker said it "makes sense to move them to another owner."
- These actions address the balance sheet, accelerate cash flow, and help pay down $300 million in debt.
70 Articles
70 Articles
Fast-food chain closing up to 200 'underperforming' locations
Jack in the Box announced that it plans to close 150 to 200 of its restaurants as it looks to boost the fast-food company’s financial performance.The company said Wednesday that the restaurants in the planned "block closure program" were ones that were "underperforming" and, in many cases, several decades old. "Our actions today focus on three main areas: addressing our balance sheet to accelerate cash flow and pay down debt, while preserving gr…
CEO makes stark admission after unveiling plans to close 200 locations
THE CEO of a fast-food chain has made a stark admission after revealing that up to 200 restaurants will close. Execs revealed a three-pronged strategy helped explain why the decision was taken to shutter the locations. GettyBosses of a fast-food chain have unveiled plans to close stores[/caption] Jack in the Box bosses are planning to close up to 200 restaurants. Between 80 and 120 restaurants are expected to shut by the end of the year. Execs…
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