#1
#1 out of 1
business13h ago
Beloved Italian restaurant chain to close another 30 locations
- Noodles & Company plans to close 30–35 restaurants in 2026, adding to prior shutdowns.
- Total U.S. locations would fall by more than 100 since early 2024, a downturn of over 18%.
- Executives say closures target restaurants with less opportunity to perform to protect stronger sites.
- Sales at remaining locations reportedly improved, with comparable sales up over 7% in the latest quarter.
- Noodles & Company boosted value with a new 'Delicious Duos' menu offering, starting at $9.95.
- An activist investor owning about 6% of the company has urged selling up to 200 locations.
- A potential reverse stock split has been floated to raise the share price, with a vote set for February 4.
- The company faced a broader industry downturn, with 22 restaurant chains filing for bankruptcy in 2025.
- Company cited inflation, higher wages and restrained consumer spending as drivers of the downturn.
- Noodles & Company posted progress on cost controls while navigating investor pressure.
- The overall strategy centers on concentrating operations where opportunities remain strongest.
Vote 0