Restaurant Brands closes ailing Starbucks stores, entertains offers ahead of sale decision

Tue, 02 Jul 2013

By Tina Morrison July 2 (BusinessDesk) – Restaurant Brands New Zealand, which is counting on new burger chain Carl’s Jr to drive future earnings growth, is closing unprofitable stores at its worst-performing Starbucks unit ahead of a possible sale next year. The fast-food operator closed six Starbucks stores last financial year and may shutter a further five outlets as leases come up for renewal, leaving 22 profitable cafes in the group, chairman Ted van Arkel said in an interview. “We are tidying up, we are working at reducing the number of...

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