You’re probably well aware of how tough the economy has been the past couple of months. Some reports estimate that the fallout has been a stunning $4 trillion since January. Times are undeniably hard, and as consumers continue to pinch pennies, retailers everywhere are feeling the brunt of the seismic economic shift.
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Legacy brands like Forever 21 and Joann’s Fabrics have started shuttering their business operations, Hooter’s is changing its customer strategy in hopes of pivoting after filing for bankruptcy, and even Denny’s is closing locations in hopes of clawing back cash as more and more diners opt to eat at home.It would appear that commercial business and the restaurant industry in general is in dire straits, and unfortunately, there don’t appear to be any signs of relief coming anytime soon.
Related: Famed Discount Retailer Closing Nearly 100 Locations Soon—Here’s What You Need To Know
With each passing day, more chains add their name to the long list of brands closing underperforming locations. From On the Border to Del Taco, no institution is safe—not even Dairy Queen. That’s right, friends. The beloved ice cream chain announced another round of closures this week after seeing a continued slump in sales as consumer spending continues to shift.
A whopping 40 locations in Texas ceased operations as of April 1, and we’re sure there will be more on the way. The closures affected five cities: Hemphill, Jasper, Kountze, Huntington, Longview, and Lufkin. While the chain maintains that the closures are primarily related to a franchise issue, the timing seems eerie given the economic moment we’re currently facing.
A rep for the brand said that “These closures are related to closures last month by the same franchise owner,” and that “The closures are an isolated event.” It also appears that at some of the locations, the “complete contents” of the store are up for auction online as the brand aims to “liquidate the assets.” For now, the closures seem isolated to Texas, but only time will tell if a larger domino is set to fall.
Related: This Famed Breakfast Restaurant Is Closing More Locations Than Expected This Year—Here’s What’s Happening
