WILKES-BARRE, PA — Two more national brand eateries announced on Monday that they are closing their doors.
One week after its Hanover Township restaurant closed, and following two years of disappointing sales on a national level, Pizza Hut announced that its Kidder Street location also will shut down this week.
And Lone Star Steakhouse, part of a chain that features a Texas-inspired menu, will close its Kidder Street location this weekend. Employees at the restaurant confirmed Monday that the restaurant would close permanently on Saturday.
No one at Lone Star corporate offices in Plano, Texas, could be reached for comment.
Two major US fast food conglomerates are looking for ways to maximize profits. Selling off several chains that do not fit into their long-range plans are being considered.
Yum Brands is looking for a buyer for their A&W and Long John Silver’s restaurant chains. Yum Brands is concentrating on overseas development and neither Long John Silver’s or A&W have an international presence. That would leave Yum Brands with KFC, Taco Bell and Pizza Hut, which all have international locations. A&W and Long John Silver’s have a combined total of 1, 630 locations nationwide.
Wendy’s is looking to sell Arby’s so they can concentrate on Wendy’s development. Wendy’s/Arby’s combined have over 10,000 restaurants. Wendy’s is the larger chain with over 6,500 restaurants. Arby’s is struggling because they tend to be more expensive than other fast food chains and offer less of a dollar menu.
Wendy’s/Arby’s is also the target for a potential takeover bid after receiving an inquiry to buy the chain in June of last year.