Noodles & Company will shut down 55 “underperforming” restaurants — more than 10 percent of its total locations nationwide — by mid-2017 as the chain struggles to improve its financial performance.
Officials with the Colorado-based chain have not yet identified which restaurants will close.
Dave Boennighausen, Noodles & Company’s interim CEO, said in a statement Thursday that the closings and an infusion of cash from an existing shareholder “are critical to the long-term success of Noodles & Company,” according to Nation’s Restaurant News.
Noodles & Company plans to use cash from the deal to satisfy liabilities associated with the closure of restaurants, as well as costs associated with a data breach last year, and to invest in its remaining restaurants, the NRN story said.
Noodles & Company operates four restaurants in the region:
• The Greene, 11 Greene Blvd., Beavercreek.
• Austin Landing, 3400 Rigby Road, Miami Twp.
• Tylersville Road, 7791 Cox Lane, West Chester Twp.
• Mason, 9368 S. Mason-Montgomery Road, Mason
RELATED: New Noodles & Company to open Monday in Austin Landing (January 2015)
There are three more locations in the Cincinnati area:
• Tri-County, 11725 Princeton Pike, Springdale
• Kenwood, 7800 Montgomery Road, Cincinnati
• Hyde Park, 3707 Isabella Ave., Cincinnati
Noodles and Company considered adding a restaurant on Brown Street near the University of Dayton in late 2015, to the extent of applying for a liquor license in the space, before pulling out of the deal. A new Bibibop restaurant opened in the space instead.
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