Another popular dining chain closing locations: 21 restaurants shutting down this year
Another popular fast casual restaurant chain is shutting down multiple locations.
Noodles & Company will close up to 21 of its restaurants this year, according to first quarter earnings report released earlier this month. Of those, 13-17 are company-owned and four are franchised restaurants.
Noodles & Company will add two company-owned locations during the same time period.
In a statement to USA Today, a Noodles & Company spokesperson said it is not able to share a full list of locations set for closure as discussions are ongoing.
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“Our focus remains on operating a strong, healthy restaurant base that allows us to deliver the best possible experience to our guests,” the statement added.
According to USA Today, Noodles & Company has 380 company-owned restaurants and 89 franchised locations in 31 states.
The changes are designed to capitalize on growth opportunities, according to Drew Madsen, Chief Executive Officer of Noodles & Company.
“Our new brand strategy focused on our comprehensive new menu is increasing relevance and demand, our loyalty program continues to grow, and our emphasis on operations excellence is helping deliver a more consistent guest experience while ensuring the successful execution of the new menu.
“Combined with a significant reduction in capital spending and continued emphasis on smart cost savings, we are well-positioned to strengthen our balance sheet as well. Overall, we are confident in the foundation we have put in place and are excited by our sales momentum to start 2025,” he added.
Noodles & Company’s latest financial statements show a total revenue increase of $123.8 million with sales at comparable restaurants increasing more than 4%. Net loss, however, was $9.1 million.