Jack in the Box announced its decision to close up to 200 restaurant locations and potentially divest Del Taco to concentrate on its flagship brand. The initiative, termed 'JACK on Track', is intended to eliminate underperforming outlets and raise funds to address $300 million in debt. CEO Lance Tucker stated that this would optimize performance across stronger restaurants and enhance the economics for franchisees. Despite not confirming Del Taco’s sale, the company is evaluating options to streamline its operations amid various external economic pressures affecting the fast-food industry.
Jack in the Box will close up to 200 locations and may divest Del Taco to focus on its core brand while addressing its $300 million debt.
The 'JACK on Track' strategy aims to enhance performance of stronger locations and provide financial flexibility for reinvestment.
CEO Lance Tucker emphasized that this initiative will support reliable, consistent growth and strengthen franchisees' long-term economic outlook.
The company faces broader industry challenges including rising wages, food cost inflation, and changing consumer spending behaviors.
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