991018 Wendy's Closes Seven Restaurants In U.K.October 9, 1999Dublin, OH - Wendy's International Inc. said it closed its seven company- operated restaurants in the United Kingdom due to high real estate and operating costs. The 30-year-old company said it expects the closing of the restaurants, most of them located in central London, not to hurt its 1999 fourth-quarter earnings. This action will improve the financial performance of Wendy's Europe/Middle East division in 2000, the company said. The remaining 40 franchised Wendy's restaurants located in the U.K., Greece, and Saudi Arabia, which were not affected, will be supported out of the company's corporate headquarters, it said in a prepared statement. Wendy's International, with more than 5,400 restaurants in the United States, Canada and global markets, posted $6.5 billion in systemwide sales in 1998 with Wendy's and Tim Horton brands.
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