Ticker: Wendy’s to close 100s of US stores; BBC apologizes for Trump speech edit
Wendy’s plans to close hundreds U.S. restaurants over the next few months in an effort to boost its profit and make its remaining stores more appealing.
The Dublin, Ohio-based chain said during a conference call with investors that it planned to begin closing restaurants in the fourth quarter of this year. The company said it expected a “mid-single-digit percentage” of its U.S. stores to be affected, but it didn’t give any more details.
Wendy’s ended the third quarter with 6,011 U.S. restaurants. If 5% of those locations were impacted, it would mean 300 store closures.
The new round of closures comes on top of the closure of 240 U.S. Wendy’s locations in 2024. At the time, Wendy’s said that many of the 55-year-old chain’s restaurants are simply out of date.
Ken Cook, Wendy’s interim CEO, said the company believes closing locations that are underperforming will help improve traffic and profitability at its remaining U.S. restaurants.
BBC apologizes for Trump speech edit
The BBC apologized for a misleading edit of remarks by President Donald Trump that featured in a documentary last year, the latest scandal to raise questions about the future of Britain’s national broadcaster.
British Broadcasting Corp. Chairman Samir Shah acknowledged on Monday that the edited footage of Trump’s speech near the U.S. Capitol on Jan. 6, 2021, aired on the Panorama program wrongly gave “the impression of a direct call for violent action.” Shah told the House of Commons Culture, Media and Sport Committee in a letter that “the BBC would like to apologize for that error of judgment.”
The apology came after the BBC’s director-general, Tim Davie, and its news chief, Deborah Turness, stepped down over the matter.
