Noodles and Company to Close 55 Locations – No Word if Twin Falls Included
It's never good news when a business announces it's closing stores. It especially hurts when those stores serve food. That is unfortunately the case for Noodles and Company, whose parent company has indicated it's closing 55 locations.
Here's the word from the Franchise Times:
The closures will affect roughly one in 10 of the 510 total units for the company. The company stated that many of the restaurants targeted for closure opened recently in newer markets, where its brand awareness is not as strong. The closures are expected to take place in Q1 and Q2 of 2017.
It's the "opened recently in newer markets" that is concerning as the Twin location just opened in October of 2015. I find it hard to believe that such a new store could potentially close so quickly, but I guess we'll find out soon enough.
According to the Franchise Times article, the Noodles and Company stock has not had a banner year dropping from over $10 per share to around $3 now. Ouch.
Check out the full Franchise Times article and let's hope some of our local Noodles and Company folks aren't out of a job soon.