The topic of this article is Taco Bell, and the reason for its cancellation is the company’s poor financial performance. Taco Bell has been struggling since 2016, when sales and traffic dipped for the chain.
In 2018, Taco Bell announced that it would close over 500 restaurants worldwide due to poor performance.
The company cited “challenging market conditions and heightened competition” as the reasons for the closures, but analysts say that the core problem was that Taco Bell didn’t offer anything new to customers. The chain’s biggest selling point was its $2 menu, but that didn’t lure in new customers in a competitive market.
Taco Bell’s poor financial performance is likely a sign that the company’s time as a major player in the fast food industry is coming to a close. The chain has been losing market share to competitors like McDonald’s and KFC, and its closure will only make things worse for the company.
