Denny's plans to close about 150 restaurants to boost sales amid a decline in family dining, representing roughly 10% of its total locations.
Kelli Valade, Denny's CEO, stated, 'We believe this is absolutely the right thing to do to make our system stronger' while outlining the closures.
Gregg Majewski explained that the closures reflect a 'strategic adjustment to maintain financial health in a difficult economic environment,' not a negative industry reflection.
Neil Saunders noted the dining sector's shift: 'Although overall restaurant spending is forecast to grow, it's mostly due to inflated prices, not increased patronage.'
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