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Burger King will close up to 400 stores by the end of the year - with two franchises already declaring bankruptcy - as fast food giant fails to keep up with fast-casual competition
Daily Mail ^ | 5/04/23 | Tilly Armstrong

Posted on 05/05/2023 4:46:04 AM PDT by Libloather

Burger King has estimated that the fast food giant will have to shutter up to 400 locations across the country this year.

The iconic burger chain said that underperforming stores will be the first to go.

Following the announcement of the company's first quarter results, CEO Joshua Kobza said the chain expects to shut between 300 and 400 locations in 2023.

This is a historic high - the company usually closes a couple of hundred stores annually, Kobza said.

According to its earnings release, Burger King axed 124 locations in the year up to March, leaving 6,964 restaurants.

Not all of the 300 to 400 locations closing their doors this year have been revealed, as boss Kobza admitted there is 'a fair degree of uncertainty' around the plans.

Sales performance can vary greatly between Burger King locations, and the company said it is seeking additional franchisees with stronger finances this year.

Chairman Patrick Doyle said: 'There will always be a minority [of franchisees] who aren't dedicated, enthusiastic operators. We'll work with them to leave the system and move on to do something else.

'There simply is no room for franchisees who are not willing or able to work hard to operate restaurants that are better than the system average over the long term.'

It comes after two Burger King franchisees declared bankruptcy earlier this year.

For decades, the home of the Whopper has had to live in the shadow of the Golden Arches of McDonald's as America's second-biggest burger chain. In 2020, it lost its second-place spot to Wendy's.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; Conspiracy; Food; Health/Medicine
KEYWORDS: bankruptcy; biden; burger; burgerking; food; king
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To: Yo-Yo
I think it's finding motivated people that are willing to do the work.

Odd that Chick-fil-A has no problem.

Maybe it's because they treat their employees as valued people?

41 posted on 05/05/2023 6:26:41 AM PDT by null and void (Attention! Non-compliant Resident Alert! Attention! Non-compliant Resident Alert! Attention! Non-com)
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To: fuzzylogic
Fast food, as we’ve known it, is a dinosaur.

One of the trends I've seen is food bars in grocery stores. They can get fairly sophisticated in wealthy areas. I was house sitting in Oakland county Michigan(auto wealth) some years ago and one could get a pre-cooked filet mignon meal at half the cost of a restaurant meal at one of the high end grocery stores. None of the stores in my metro area serve filet mignon, but you can get a decent meal for $10 or so.

42 posted on 05/05/2023 6:29:39 AM PDT by EVO X ( )
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To: Libloather

I am guardian to a 61 y.o. woman who is special needs and very OCD. She eats the same thing for lunch everyday and nothing you try will change it...a plain (no cheese) burger, diet coke and fries. We like BK because of all the burger joints, they get her weird order right the most and also they have the fastest service.

No lectures on how I should make her eat better. She’s been eating like this for over 50 yrs and would rather starve than change...sigh


43 posted on 05/05/2023 6:38:33 AM PDT by BamaBelle
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To: Yo-Yo

These days it seems the only pool of workers that fast food restaurants pull from is the local probation office.

*****************

Why work in fast food when you can work in a barista with a constant flow of traffic, without the grease pit?

Both fast food and coffee outlets are completely saturated with location after location.
The “rub” for these businesses is the customer & labor supply have more choices at this time.


44 posted on 05/05/2023 6:39:27 AM PDT by unclebankster ( Globalism is the last refuge of a scoundrel.)
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To: Libloather

Oh no! Now where am I going to get my “Proud Whoppers?”


45 posted on 05/05/2023 6:40:46 AM PDT by systemjim ( Lifetime Lover of Music)
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To: SauronOfMordor

We do have a couple of upscale seafood places that keep our dining-out budget over limit. Saffron Oysters, crab stuffed flounder and scallops are my weaknesses.


46 posted on 05/05/2023 6:41:55 AM PDT by KC Burke (Diversity, Inclusion and Equity is not another way to spell GOD but it is a way to spell DIE.)
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To: null and void
Maybe it's because they treat their employees as valued people?

Maybe it's also because they have Sundays off and have a generally Conservative corporate viewpoint.

Chick-Fil-A is the "Fox News" of the fast food world.

47 posted on 05/05/2023 6:46:52 AM PDT by Yo-Yo (Is the /Sarc tag really necessary? Pray for President Biden: Psalm 109:8)
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To: Libloather

Thier Bud Light was the Impossible meat thing.


48 posted on 05/05/2023 6:52:16 AM PDT by GMThrust
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To: Libloather

I think fast food is dying overall. People are more health-conscious and fast food like McDonalds and Burger King have horrible health reputations.


49 posted on 05/05/2023 6:53:21 AM PDT by Opinionated Blowhard (When the people find that they can vote themselves money, that will herald the end of the republic.)
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To: null and void
Odd that Chick-fil-A has no problem.

I go a Chick FIL A near an area that is called the "War Zone" in Albuquerque on occasion. Everyone who works there speaks English as a second language. It's right near Kirtland AFB. It is clean, friendly, fast (food is often out to me before I can get my straw, napkins and Texas Pete's sauce), and the food tastes good. The Burger King right next to it is damn near empty every time I drive by. The Church's Chicken down the road is empty due to locked lobby because of the homeless problem. It's weird. Some restaurants have no problems dealing with the homeless causing problems and others can't get rid of them. These places are all within a city block or two of each other.

50 posted on 05/05/2023 6:58:47 AM PDT by IYAS9YAS (There are two kinds of people: Those who can extrapolate from incomplete data.)
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To: SauronOfMordor

Culvers has great staff and good food.


51 posted on 05/05/2023 7:09:45 AM PDT by GingisK
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To: cotton1706
There is a grocery store chain in New England called Market Basket. It is a family owned business still.
You can get a Cheese Burger and fries for $2.99. Without cheese for $2.89. Plus they make fresh sandwiches, subs, chicken wings, rotisserie chicken, salads, etc. Their food is better than most of the other sub/sandwich shops around here. I stopped there on the way home a couple nights ago. Ordered a steak bomb sub for $6.99. Picked it up after I was done with the rest of my grocery shopping.
52 posted on 05/05/2023 7:10:14 AM PDT by woodbutcher1963
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To: Libloather

My fast food preferences are now down to two: Golden Chick and Whataburger. Raising Cane’s was cut from the list when I learned Angela Reese was an endorser of theirs. McDonalds is no longer an option, the closest one takes way too long to move people through their drive through.


53 posted on 05/05/2023 7:17:28 AM PDT by Night Hides Not (Remember the Alamo! Remember Goliad! Remember Gonzales! Come and Take It!)
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To: Libloather

What, no more Pride Burgers?

I have bought nothing from these people since they did that.


54 posted on 05/05/2023 7:18:02 AM PDT by Persevero (You cannot comply your way out of tyranny. )
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To: Libloather

I used to love BK, but all the ones around where I live now (Indy Northside) are filthy. Had a friend who went to the closest one a while back, bought a Whopper JR. and when she bit into it got a decent wad of hair in her first and last bite, neither of us have been back to a BK since. Steak and Shake is having the same problem and is also dying.


55 posted on 05/05/2023 7:31:37 AM PDT by redangus
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To: Yo-Yo

Location did you say? In Australia Burger King operates under the name “Hungry Jack”, and does very well. Their locations are typically packed, their service is quick and largely automated with ordering kiosks, and their menu items include the veggie burger which was dropped from the U.S. menu several years ago when they introduced the “Impossible Burger”.


56 posted on 05/05/2023 7:42:00 AM PDT by PUGACHEV
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To: Libloather

Heard Christmas Tree Stores are near bankruptcy too.


57 posted on 05/05/2023 7:46:02 AM PDT by mware ( )
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To: woodbutcher1963

Yes, I live just south of Boston.


58 posted on 05/05/2023 7:48:01 AM PDT by cotton1706
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To: HamiltonJay

Toms King is in Chapter 11.


59 posted on 05/05/2023 7:48:36 AM PDT by PUGACHEV
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To: redangus

Once had a Burger Chef in our towm. Over 50 years ago. Remember could get a cheese burger, small fries and a coke for under$1.


60 posted on 05/05/2023 7:49:31 AM PDT by mware ( )
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