McDonald's, Burger King, Wendy's rival closing more restaurants

Group 1: Restaurant Closures - Burger King and Wendy's are closing or planning to close hundreds of restaurants due to various challenges, including the loss of key franchise operators for Burger King [1] - Wendy's is expected to close about 400 underperforming locations to free up capital for improvements in remaining restaurants [5] - Hardee's has also been closing locations, with nearly 40 closures attributed to underperformance and a lack of foot traffic following a major franchisee's bankruptcy [6] Group 2: Strategic Initiatives - Wendy's interim CEO Ken Cook outlined three key initiatives: understanding customers better, simplifying programming and execution, and collaborating closely with franchisees [2] - The company has launched "Project Fresh," a comprehensive turnaround plan aimed at driving profitable growth and long-term value across its U.S. system [2] - Wendy's is evaluating underperforming restaurants to implement operational changes, technology upgrades, and align operating hours with demand [3][4] Group 3: Investment Focus - Wendy's plans to invest in new kitchen equipment and technology upgrades, such as digital menu boards, to enhance productivity and improve food quality [5] - The closure of underperforming restaurants is intended to strengthen the overall system and allow franchisees to invest more resources into their remaining locations [4]