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HouTex
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Noodles & Company Closed 55 "Underperforming" Locations

submitted 14 days ago by HouTex in "Stores / Merchants"

Noodles & Company has closed 55 of their 510 locations, many of which were recently opened in new markets. These included all locations in Texas and Oklahoma as reported by local news media, but I couldn't find a complete list anywhere.
Even as it closes stores, the company expects to open a dozen or more locations in 2017, but only in what they described as “lower-risk markets.” The company also wants to shift a handful of company-owned stores to franchise owners, who currently run 15 percent of locations.

Noodles expects to pay upwards of $29 million to terminate leases, cover real estate broker fees and pay severance to employees. Noodles’ reputation took an added hit in May 2016 after the disclosure of a large data breach that exposed the credit card and debit card information of its customers going back to January of that year. SELCO Community Credit Union in September sued the company for the breach.

The company recorded an $11 million charge linked to the data breach in the fourth quarter of 2016 and could face another $5 million in costs.
The remaining open locations have added 2 new menu items - Thai green curry shrimp and Adobo pork/chicken.

http://www.denverpost.com/2017.....staurants/
https://www.qsrmagazine.com/ne.....2-quarters
     

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  • 235738
    YanBz
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    Posted by YanBz 12 days ago [reply] 0 0
    This is one of my favorite casual restaurants. Too bad they are not doing well. I would hate to see my location close.
      235739
    • HouTex
      admin
      Posted by HouTex 11 days ago [reply] 0 0
      We really liked them, too. So we're very sorry they're gone from Texas. We lost 3 locations here and 5 in Austin. I don't think any near you will fail, and I think they've already closed all they plan to close. Noodles restaurants apparently do better in your area as they kept 10 locations in Illinois, and one of the new locations opening soon will be in Bloomingdale, IL. http://www.noodles.com/locatio.....le-square/
      The other two new locations are planned for Zanesville, OH and Campville, PA. http://www.noodles.com/coming-soon/ .

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