DENVER (KDVR) — Just months after Noodles & Company announced it's closing more than a dozen restaurants, the Colorado-based fast casual chain is now expecting even more to shutter.
On Wednesday, the company known for serving up all things noodles said it was planning on closing around 28 to 32 company-owned restaurants this year, about 10 more closures than previously expected.
This comes after Noodles & Company's first-quarter earnings report in May said it was planning on closing up to 21 of its restaurants across the United States to improve its financial footing.
After the second quarter report that concluded in July, those closures went up.
While one new company-owned restaurant opened, six company-owned restaurants and two franchise restaurants were closed in the second quarter. Noodles & Company said that between the first and second quarters, revenue decreased to $126.4 million from $127.4 million, with a net loss of $17.6 million.
While the unnamed restaurants are closing around the country, the company said that by the end of the year, this should also increase revenue. Despite the closures, the company still has hundreds of locations across the country.
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