Jack in the Box announced plans to close 150-200 bad stores on Tuesday as part of an aggressive financial plan called “Jack on Track.”
The company’s CEO said in a statement that the fast food chain, known for its jumbo jack and sarcastic mascots, is focusing on accelerated cash flow and repaying debts.
Jack in the Box operates around 2,200 stores, mainly in 22 states on the West Coast, including many locations in Southern California.
You may not know that, but Jack in the Box owns Del Tacos and plans to streamline the finances could have an impact on the future of the Taco chain, which operates around 600 locations.
In an investor’s note, company officials said they would begin a “strategic alternative process for Deltacos.” Deltacos is currently the second largest Mexican-American quick service chain.
Many of the Jack in the Box closures occur before the end of the year, with less-performing locations closing once the franchise agreement is terminated.
The company was established and headquartered in San Diego.
Read the entire Jack in the Box Company statement here.
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