You know the economy is in bad shape when CNN reports; America will soon have to run on 800 fewer Dunkin’ Donuts.
Dunkin Donuts, one of the largest coffee and doughnut chains in the world, is permanently closing 8 percent of its U.S. locations, according to CNN.
The company described the closures as “real estate portfolio rationalization” in its second-quarter earnings, released Thursday. The closures will primarily affect low-volume sales locations, and Speedway convenience stores will consist of 450 of the closures.
Dunkin’ additionally expects to close 350 international locations in the second half of 2020.
Restaurants have largely been struggling during the shutdowns. However, unlike many other chains, Dunkin’ has been able to pay a large portion of its rent throughout the pandemic.