People aren’t going out to eat as much as they used to and restaurant chains are feeling the financial effects of that. Things have gotten so bad for some that they have taken the drastic measure of closing down underperforming locations. It’s something Boston Market , Red Lobster , Pizza Hut , TGI Fridays , Popeyes , Cracker Barrel , Applebee’s and many other companies have done, and beloved burger joint Shake Shack is doing it as well.
The chain recently revealed that it would shutter nine restaurants that are not doing as well as others. Those locations, in California, Texas and Ohio, will all be permanently closed by Wednesday. In a statement, CEO Rob Lynch explained, “After careful consideration, we’ve made the tough decision to close a small group of Shacks due to various factors, including underperformance. We remain focused on supporting our team members through this transition and look forward to continuing our growth, opening many more locations across the country.”
Lynch went on to state that the company “currently does not anticipate closing any additional Shacks based on this evaluation” for the foreseeable future. In addition, they plan to open dozens of new company-owned restaurants as well as more licensed locations. They currently have 510 locations, with 330 in America across 33 states and the District of Columbia…