Dunkin' to close 450 stores permanently by end of 2020
The locations that will be closing are all reportedly located inside Speedway gas stations
America will be running on a little less Dunkin'.
The major coffee and doughnut chain announced it will be permanently closing 450 stores by the end of 2020.
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Though the locations that will be closing are all reportedly located inside Speedway gas stations, and not free-standing cafes. The big news comes as part of termination of the coffee shop's partnership with Hess, owner of Speedway gas stations, Dunkin' revealed during a 2019 fourth quarter and fiscal year earnings call.
Before the closure announcement, Dunkin' had been making moves to expand its brand and offerings. (iStock) (iStock)
A representative for Dunkin' told Fox News in a statement that the brand is closing the Speedway Dunkin' cafes in order to focus on the chain's independent locations.
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"By exiting these sites, we are confident we will be better positioned to serve these trade areas with Dunkin's newest Next Generation restaurant design that offers a broader menu and modern experience," Kate Jaspon, Dunkin's chief financial officer, told Today of the Speedway locations via email. "We also remain committed to growing our presence in gas and convenience locations, as well as other non-traditional locations, including airports, universities, travel plazas and military installations."
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Recently, Dunkin' has been expanding its brand.
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The coffee chain announced early July it would be testing new bubble tea and shandies during summer. While in June, the brand said it was looking to add 25,000 employees to its workforce, and provide store employees with online educations.