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Denny's, America's favorite diner, shutting more locations across the country
Denny's has shut 15 more restaurants across the US as the chain battles rising costs and falling sales.
It is the latest restaurant chain to be hit with a drop in customers, who have increasingly been eating out less after two years of punishing price rises.
The closures at the famed chain - dubbed America's diner - come on top of 57 last year and 60 in 2022.
One that shut recently, on June 19, was the final remaining Denny's in Langthorne in Bucks County in Pennsylvania.
Another popular Denny's store was closed in Ashland, Ohio last month.
Denny's has already closed 57 locations this year
Denny's same-store sales were down 0.6 percent from the same time last year. Given it has put up prices, that means it saw a sharp fall in customer numbers.
Robert Verostek, Denny's executive vice president and chief financial officer, blamed inflation as a significant factor closures when he spoke to investors in February.
He pointed out that the breakeven point for a restaurant to remain open had jumped from $1 million to $1.2 million due to higher costs for food and wages.
In an attempt to attract customers, Denny's is joining other fast casual stores in the value wars.
Restaurants and fast food chains have increasingly looked to offer value options to lure in inflation-weary customers who have cut back on dining out.
Denny's will officially relaunch its $2-$4-$6-$8 value menu later this summer.
Denny's CEO Kelli Valade told investors the return of the chain's classic meal deals will chime with loyal customers.
'This was a value platform unique to Denny's that launched years ago to amazing results, and it's a unique equity only we have,' Valade said on the call.
The struggling chain is set to close a further fifteen underperforming locations
'We're thrilled to bring back this consumer-friendly traffic-driving platform based on extensive testing and reengineering,' she added.
Applebee's has also released value deals as it too has faced mass closures.
In an attempt to lure Americans fed-up with increasing fast food prices Applebee's launched the 'Whole Lotta Burger' with fries for $9.99.
The move to compete with fast food chains echoes that of Chilli's, which also launched a $10.99 burger meal that is bigger AND cheaper than the Big Mac
A Big Mac meal can cost almost $15, while Shake Shake, Five Guys, Wendy's have burgers that alone cost $10.