Wendy’s is an American fast food company founded in 1969 by Dave Thomas in Columbus, Ohio. The company is known for its square hamburgers, sea salt fries, and Frosty milkshakes. As of March 2020, Wendy’s was the world’s third-largest hamburger fast-food chain with 6,711 locations, following Burger King and McDonald’s.
On March 10, 2020, Wendy’s announced that due to the COVID-19 pandemic, they would be temporarily closing all company-owned restaurants in the United States. This decision was made in order to protect the health and safety of employees and customers.
While many restaurant chains have been struggling due to the pandemic, Wendy’s was doing relatively well up until this point. In 2019, the company reported $1.4 billion in revenue and had plans to open 500 new locations by 2025.
The temporary closure of Wendy’s restaurants will undoubtedly have a negative impact on the company’s finances. It is still too early to tell if this will be a long-term problem or if Wendy’s will be able to recover quickly once the pandemic is over.
For now, we can only wait and see how this situation unfolds.
Is Wendy’s Going Out of Business in 2020?
With the outbreak of COVID-19 and the consequent shutdown of all company-owned Wendy’s restaurants in the United States, it is natural to wonder if the fast food chain is going out of business in 2020. However, it is still too early to tell what long-term effects the pandemic will have on Wendy’s finances. For now, we can only wait and see how this situation unfolds.
