A fan favorite burger spot, Jack in the Box, has closed over 70 restaurants this year, with the potential for even more stores to follow in the days to come.
Earlier this year, the fast food franchise announced plans to permanently close 150 to 200 underperforming restaurants across the U.S., according to a press release. The move is part of the brand’s “Jack on Track” plan, which looked to improve the company’s finances.
Jack in the Box said in April that between then and December 31, it would close 80 to 120 stores. The company has since followed through, shuttering a total of 71 restaurants as part of the “Jack on Track” plan.
However, as the company has yet to hit its target number of closed restaurants, more shops could shut within the next few days.
The Independent has contacted a representative for Jack in the Box for comment.
At the time of the April announcement, Jack in the Box was operating 2,200 locations across 22 states, most of which are located on the West Coast. California alone had 942 restaurants, making up 43 percent of the company’s total.
When announcing the “Jack on Track” plan in the April press release, the company said that once its restaurant closure program was completed, “Jack in the Box expects to deliver consistent, positive net unit growth, helped by the strong performance of new markets and tremendous whitespace opportunities.”
“In my time thus far as CEO, I have worked quickly with our teams to conclude that Jack in the Box operates at its best, and maximizes shareholder return potential, within a simplified and asset-light business model,” Lance Tucker, Chief Executive Officer at Jack in the Box, said in a statement.
“Our actions today focus on three main areas: addressing our balance sheet to accelerate cash flow and pay down debt, while preserving growth-oriented capital investments related to technology and restaurant reimage; closing underperforming restaurants to position ourselves for consistent net unit growth and competitive unit economics; and, an overall return to simplicity for the Jack in the Box business model and investor story.”
The franchise was also hoping to pay off $300 million in debt in the next two years from closing these locations.
Meanwhile, Jack in the Box isn’t the only chain riddled with issues.
!["[T]he First and Fifth Amendments Require ICE to Provide Information About the Whereabouts of a Detained Person"](https://images.inkl.com/s3/publisher/cover/212/reason-cover.png?w=600)
