Some Golden Arches in neighborhood near you may be disappearing as McDonald’s announced on Wednesday that it will close hundreds of underperforming restaurants in the U.S. and Asia this year.
MSN noted that the fast-food giant already shuttered more than 300 stores in the markets since January as a plan to drive up sales at other stores. That has not worked out and now an additional 350 stores will close their doors.
Even with all the closures, the company will still remain the largest fast-food chain in the world with more than 32,000 restaurants operating. However, the stiff competition of healthier alternatives from other restaurants continues to be a major threat and could force more closures over time.
As previously reported, McDonald’s CEO Steve Easterbrook also announced Wednesday that the company was going to reveal a new turnaround plan next month in another attempt to try and boost sales.
McDonald’s has been strategizing for months on how to gain back diners it lost to places like Chipotle Mexican Grill and Starbucks. The company hopes that the new plan will do the trick.
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