Noodles & Co (NASDAQ:NDLS) announced a Noodles and Company closing list for 2017.
The company revealed that it is shuttering the doors of at least 55 restaurants around the country in the U.S. The move comes following some recent financial struggles for the company.
A Noodles and Company spokesman said the move will help eliminate the company’s negative cash flow, while also improving overall sales performance. The company closures amount to more than one in every 10 stores as the eatery owns 510 locations around the nation.
The restaurants that are shutting down are locations that underperformed, and they are scattered throughout the country. The company operates stores in at least 35 stores across the country’s states and Washington, D.C.
Many of the Noodles and Company locations that are shutting down are fairly recent, opening within the last two to three years. It is unclear what the exact locations that are being shut down are.
“We will be disclosing more information about affected restaurants in the coming weeks,” a company spokeswoman said.
The fast-casual restaurant offers noodle dishes from the U.S. and abroad, including pasta, soups, salads and other noodle-related products that you may like.
NDLS shares grew 1.4% on the news, perhaps due to the fact that the Noodles and Company closures will help balance the company’s balance sheet in the long run.
