Vasari LLC, a franchisee of Dairy Queen, recently announced it plans to close and sell off 29 of its locations in Texas, New Mexico and Oklahoma.
According to mytexasdaily.com, the company is closing down the restaurants as part of a Chapter 11 bankruptcy filing.
As part of its debt restructuring agreement, the company is said to be focusing on 45 stores, down from 70, something Vasari said it hopes will strengthen things financially:
“This decision was based solely on what’s best to have a healthy company and ensure the long-term success of our core restaurants for our customers, employees and other stakeholders,” Vasari President and CEO William Spae said in a statement.
The company further provided in its statement how “employees at affected locations are being paid in full for time worked,” and explained it will be able to preserve 700 jobs at the stores remaining open.
Read more about DQ’s melting financial standings, and get it while you can, y’all.