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3w ago

Jack in the Box to Close Up to 200 Locations and Weigh Del Taco Sale

The restructuring plan under new CEO Lance Tucker aims to simplify operations, reduce debt, and address ongoing financial challenges.

In an aerial view, a sign is posted in front of a Jack in the Box restaurant on May 12, 2021 in Berkeley, California.
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A Jack in the Box drive thru fast food restaurant, Tuesday, Nov. 16, 2022, in Los Angeles.
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Overview

  • Jack in the Box announced plans to close 150–200 underperforming restaurants, with 80–120 closures expected by the end of 2025.
  • The company is suspending dividends and prioritizing debt reduction, with a goal of paying down $300 million in debt over two years.
  • Bank of America Securities has been retained to explore strategic alternatives for Del Taco, including a potential sale of the brand.
  • Same-store sales for the second quarter of 2025 fell 4.4% for Jack in the Box and 3.6% for Del Taco, reflecting broader financial struggles.
  • Jack in the Box’s stock has dropped over 50% in the past year, highlighting the impact of inflation, rising labor costs, and fierce fast-food competition.