Denny's keeps shutting down restaurants after announcing plans to close 150 locations by year-end, and a bunch of underperforming spots already got axed. The breakfast chain confirmed one Bay Area location disappeared this week, but nobody knows which other restaurants are getting the boot next. CEO Kelli Valade explained back during an earnings call that the company started pruning dead weight last year to boost franchise health and hit flat growth by next year.
Capital Advisors grabbed the whole operation for $620 million with some partners, but the closures were already locked in before the buyout happened. Valade said cleaning house was necessary to optimize the system, and early results matched what executives expected from the strategy.
Capital Advisors grabbed the whole operation for $620 million with some partners, but the closures were already locked in before the buyout happened. Valade said cleaning house was necessary to optimize the system, and early results matched what executives expected from the strategy.
