Iconic restaurant chain Denny’s is closing 150 locations by the end of next year, according to financial statements from the company.
The LA Times reported the 71-year-old chain known for its 24/7 service and breakfast-heavy menu will close about 50 locations in 2024 with 100 more shutdowns taking place next year. The closures, according to The Times, represents about a 10% reduction in the number of locations the company operates.
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Locations set for shutdown have not been announced by have been identified as “underperforming.” Executive Vice President Steve Dunn said most of the locations that will be closed are too old to be remodeled or are located in unprofitable areas.
“It’s never easy to close restaurants. It’s a challenge, you work with external factors, landlords,” Dunn said. “And of course, you’re dealing with people’s lives.”
Denny’s opened its first location in 1953 in Lakewood, California. It currently operates 1,586 restaurants, 1,514 are franchises and 72 are company operated.
Denny’s reported operating revenue of $111.8 million compared to $114.2 million for the prior year quarter with income of $11.7 million compared to $14 million for the prior year quarter.
