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Stock impact report

Hardee's locations are closing in some cities - here is why [Yahoo! Finance]

Wendy's Company (The) (WEN) 
Last wendy's company (the) earnings: 2/26 07:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
restaurant locations across the U.S. as part of ongoing legal and financial turmoil affecting its franchise network. In Billings, Montana, two Hardee's restaurants , at 2404 Central Avenue and 608 N. 27th Street, have recently closed, with the latter scheduled to shut its doors permanently Saturday, The U.S. Sun reports. These locations were operated by ARC Burger, the largest Hardee's franchisee, which is now embroiled in a lawsuit filed by the chain alleging unpaid royalties, marketing fees and rent totaling approximately $6.5 million. ARC Burger owns around 80 Hardee's outlets, with reports indicating that 28 of those units are tied up in the dispute. The company bought the restaurants two years ago after the previous owner, Summit Restaurant Holdings, went bankrupt. The closures are part of a broader reduction in Hardee's footprint in recent months. At least 15 additional stores have closed since early October in states including Minnesota, South Dakota, North Dakota, Illi Show less Read more
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