A popular breakfast restaurant now makes unexpected closures in the same state after profitability was impacted by inflation.
Denny’s has shut down two locations in Idaho – one in Boise and the other in Nampa.
Each of the location’s Facebook pages has them listed as permanently closed.
The news comes after a recent company earnings call where Denny’s’ Executive Vice President and Chief Financial Officer, Robert Verostek, confirmed it will be closing around 60 locations.
Verostek mentioned that inflation impacted the company’s profitability calling the financial losses a “break point of a closure.”
“So we are continuing to work through some additional closures that as a result of those inflationary pressures,” he added.
Most of the Denny’s locations operate as franchises.
In fact, the chain’s website states that there are 1,631 restaurants, 1,558 of which were franchised and licensed.
While the company plans to close around 50 to 70 locations, Verostek said in the earnings call that there will also be new restaurants opening.
Verostek said that there will be about 40 to 50 openings.
However, 12 to 16 of those will be Keke’s.
This isn’t the first closure Denny had to make in Idaho.
The restaurant closed up shop at a location in Chubbuck – the southeastern portion of the state.
Denny’s confirmed it served its last Grand Slam back on February 11.
Additionally, they noted that the decision to shutter was made by the owner of that location, not by the company itself.
“Deciding to close a restaurant is never an easy decision, and that decision was made by the local owner,” Denny’s wrote.
The nearest location was about 50 miles from Chubbuck, however, that restaurant closed only four months prior.
Another location out of Oakland, California shut its doors back in January.
Customers walked up to the restaurant on 601 Hegenberger Road to a sign on the door after it closed at 1 pm.
The sign explained the reason for the closure.
“Closing a restaurant location is never an easy decision or one taken lightly,” it read.
That location had been open for 54 years.
Also Read: A Massive Discount Retailer Is Now Closing 600 Stores
Other Economy News Today
A beloved retailer with 600 outlets now announces an unexpected closure of one of its major locations in California.
Barnes & Noble announced that they are closing down its Merced, California location, which is said to be one of the biggest stores in the city.
The 21,714-square-foot store’s final day will be May 12, according to the manager.
The Barnes & Noble store almost shut down in 2013, before the landlord agreed to reduce the lease to allow it to stay open, reports The-Sun.
Members of the community were shocked to hear the news of the bookstore’s closing.
“It’s my understanding that they will be putting up ‘store closing’ signs relatively soon and closing up,” Merced Mayor Matthew Serratto told Merced Sun-Star.
“It’s terrible news. You want to see all businesses thrive in our community, especially a store like that which provides a valuable service.”
Merced City Council Member Sarah Boyle also revealed she was heartbroken by the closure.
“I’m extremely sad to hear the news,” Boyle said.
“Part of it is because I actually worked there while I was going to Merced College back in 2010 before transferring to Fresno State.”
“Some of the people I worked with are still there today. Now that I’m in the capacity of city council, I’m disheartened to hear it’s happening.”
After hearing about the news, Boyle reached out to the managers of the location, where they revealed that Barnes & Noble would love to find another location in the area.
“My hope that this is a similar situation to Best Buy, when they closed and eventually opened another store in Merced,” Boyle said.
“Talking to the local manager, Barnes & Noble wants to stay in Merced.
What I’ve been told is they still want to be in the Merced market.
They never wanted to close. They have to find another, smaller location that suits them.”
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Also Read: A Giant Company Now Announces Unexpected Layoffs in Maryland
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