Denny’s said last year that it would close about 150 locations but recently adjusted that number to include another 30 locations.
The always-open restaurant said in an earnings report on Wednesday that it closed 88 locations last year and will close between 70 and 90 this year, CNN reported. That will bring the total of location closures to about 180.
The updated list was not published but the company said the ones that are marked for closure were selected because they have expiring leases, have been open for 30 or more years and will be too expensive to remodel, or are in unprofitable areas.
About 24 locations that were to remain open were remodeled while the company plans to open another 25 to 40 new restaurants this year, Nexstar reported.
Some will be Denny’s while others will be its sister brand Keke’s Breakfast Cafe, the “Today” show reported.
Denny’s had hoped that consumers would return to their pre-COVID-19-pandemic and high inflation habits, but there had been a slowing in spending for January. The company’s CEO Kelli Valade said they hope that is temporary, Nexstar reported.
The annual inflation rate is currently 3%, up half a percentage from December, CNN reported.
Denny’s currently has more than 1,500 locations across the country.
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