A Massive Chain Now Makes Unexpected Closures In Two States

February 23, 2024

Updated on August 6, 2024

A massive chain now makes unexpected closures in two states while offering severance pay and job assistance to those affected.

PDQ will close its shops at eight outlets across North Carolina and South Carolina, reports The-Sun.

The chain, famed for its ‘finger-licking chicken’, will board up its windows at outlets in Lake Forest, Cary, Durham, and Raleigh, a company spokesperson confirmed.

However, PDQ’s stand inside PNC Arena in Raleigh will remain open.

Other affected locations include Hickory and Winston-Salem in North Carolina and Greenville and Columbia in South Carolina.

The chain’s site inside Charlotte Douglas International Airport will also keep its doors open, along with a restaurant in Concord and the brand’s flagship location in Cornelius.

PDQ has said it would offer severance pay and job assistance to all employees affected by the closures.

“This difficult decision comes after careful consideration and evaluation of market conditions,” the spokesperson said.

“PDQ’s executive team has visited with all of the restaurant teams over the last week and is offering severance to everyone affected, as well as providing assistance to help them find new jobs.”

Bob Basham and Nick Reader launched PDQ – or People Dedicated to Quality – in 2011 in Florida.

PDQ is headquartered in Tampa and has around 60 locations, predominantly in Florida.

PDQ isn’t the only major chain that is closing store doors.

Denny’s announced it has closed another restaurant only months after an initial closure in the same state at the end of 2023.

It was confirmed on Monday that the famed diner-style chain closed its location in Chubbuck, Idaho, near the southeastern portion of the state, over the weekend.

Several customers criticized the closure, with some even blaming inflation.

For more store closure news and updates like this, opt-in for push notifications.

Also Read: A Famous Restaurant Chain Now Closes 4 Locations in Florida

Other Economy News Today

This bankrupt clothing retailer is now having a massive sale of up to 90% off as it sets to close a major location.

Soft Surroundings, a women’s clothing retailer, is officially closing one of its stores in Kansas City, Kansas, reports The-Sun.

Located in the Country Club Plaza, the store has been in operation for 12 years.

An employee confirmed on Monday that the store’s last day of operation will be Sunday, February 25.

Shoppers will be able to score a whopping 70% to 90% off on inventory at the store through Sunday.

The clothing chain had over 40 stores across the US before it filed for bankruptcy last year.

All Soft Surroundings stores have either closed down or are in the process of getting shut down.

The company will still conduct direct-to-consumer business online via its website, which the apparel company Coldwater Creek acquired as part of the bankruptcy process.

Another popular fashion and clothing retailer, Rent the Runway, is also on the verge of filing for bankruptcy.

The clothing rental service has struggled with a variety of business operations, such as meeting customer demand and maintaining its active subscriber count, according to PYMNTS.

A report from CreditRiskMonitor revealed that the e-commerce platform has a 9.99% to 50% chance of filing for bankruptcy this year.

In an effort to revitalize the company, Rent the Runway executives formulated a restructuring plan that involves cutting 10% of its corporate roles, or 37 employees.

“With already strong unit economics and high margins, this new structure is designed to set the stage for the business to achieve free cash flow breakeven in fiscal 2024,” said the company.

For more news and updates like this, opt-in for push notifications.

Also Read: A Cosmetics Company Now Makes Painful Store Closures

Market News Published Daily 📰

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.

More Market News 📰