- Wingstop, Wendy’s, and Starbucks are among the chains that have highlighted real estate opportunities amid the pandemic in recent calls with investors.
- “The real estate market is favorable for Wingstop, given the unfortunate circumstance of this pandemic,” Wingstop CEO Charlie Morrison said on a call with investors on Monday.
- Roughly 20% of independent restaurants are expected to permanently shutter in the pandemic, according to UBS analyst Dennis Geiger, representing the loss of roughly 70,000 location across the US.
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Fast-food chains are preparing to gobble up restaurants across America, as the pandemic provides real estate opportunities in the wake of independent restaurants’ closures.
Wingstop CEO Charlie Morrison said that the chain anticipated opening 135 to 140 net new restaurants this year, up from the company’s earlier prediction of 95. According to the executive, “everything is lining up for a solid year” for development in