Noodles & Company to close up to 21 locations
It’s been a rough year-and-a-half for American restaurant chains — and now Noodles & Company is the latest to feel the heat. The fast-casual pasta chain plans to close up to 21 restaurants this year as part of a strategy to stay afloat following a turbulent 2024.
The Colorado-based company will shutter between 13 and 17 of its company-owned restaurants and four franchised locations. The brand has not yet named which sites will close.
'Our focus remains on operating a strong, healthy restaurant base that allows us to deliver the best possible experience to our guests,' the company told DailyMail.com.
Despite the closures, Noodles & Company plans to open two new restaurants in 2024. More than 450 locations across 31 states will remain open after the downsizing.
The closures come after the chain narrowly avoided being delisted from Nasdaq following a significant stock price slump . The company’s financial woes mirror broader struggles in the dining sector.
The highest profile was Red Lobster, which filed for bankruptcy in May but emerged as a going concern after shuttering almost 100 restaurants. BurgerFi , Buca di Beppo and TGI Fridays also shuttered restaurants and filed for bankruptcy.
CEO Drew Madsen has been working to bring Noodles & Company back to its financial glory since accepting the position in March last year.
Since stepping in as CEO in March, Drew Madsen has led a series of changes, including a revamped menu, new recipes, and increased marketing investments.
Those efforts helped push the January to March revenue up 2 percent to $123.8 million, with comparable restaurant sales rising 4.4 percent. Restaurant chains like Noodles & Company have been struggling financially for years due to factors like tariffs and inflation.
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