America will soon have to run on 800 fewer Dunkin’ Donuts.
The retailer, one of the largest coffee and doughnut chains in the world, is permanently closing 8 percent of its U.S. locations, according to CNN.
The company described the closures as “real estate portfolio rationalization” in its second quarter earnings, released Thursday. The closures will primarily affect low-volume sales locations, and Speedway convenience stores will consist of 450 of the closures.
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Dunkin’ additionally expects to close 350 international locations in the second half of 2020.
Restaurants have largely been struggling during the shutdowns. However, unlike many other chains, Dunkin’ has been able to pay a large portion of its rent throughout the pandemic. In mid-July, the company paid over 80 percent of rent collections, according to a Datex Property Solutions report.
The chain, which already had hundreds of locations across New York City, announced in 2018 that it would roll out 60 new stores in Manhattan over a three-year period. [CNN] — Sasha Jones