Fast-casual restaurant chain Noodles & Company plans to close up to 21 of its restaurants across the United States this year as part of an effort to improve its financial footing, the company announced earlier this month.
The Colorado-based company said in its first-quarter earnings report released May 7 that it intends to shutter between 13 and 17 company-owned locations and four franchised restaurants. The exact locations have not been announced.
“Many of these decisions are still in progress,” a Noodles & Company spokesperson told USA TODAY.
The company currently operates 380 company-owned and 89 franchised locations across 31 states. The closures come amid a challenging period for the 30-year-old chain, which narrowly avoided being delisted from the Nasdaq stock index after a significant drop in its stock price earlier this year.
Despite the closures, Noodles & Company anticipates opening two new company-owned restaurants in 2025.
“Our focus remains on operating a strong, healthy restaurant base that allows us to deliver the best possible experience to our guests,” the company said.
Drew Madsen, who assumed the role of CEO in March 2024, has been implementing changes aimed at revitalizing Noodles & Company. These include a revamped menu featuring new recipes and increased marketing investments.
His work appears to be gaining traction, with the company reporting a 2% increase in revenue to $123.8 million for the period from January to March.
Noodles & Company’s financial troubles reflect a broader trend within the restaurant industry. Red Lobster, TGI Fridays, Denny’s, Jack in the Box and Boston Market are among other nationwide chains to announce closures in 2025.
