Wendy’s Is in Trouble. What It Could Mean for NJ’s 146 Locations

Where's the beef?

Wendy's, the company that used that ad campaign in the 1980s to become one of the most popular fast-food operations in America, has been in the news after a billionaire's offer to buy the chain and take it private.

Wendy's Gets a Buyout Offer

The last few years have been tough financially for Wendy's, as the fast-food industry has grown more competitive and other burger-focused chains like In-N-Out, Shake Shack, and Five Guys have expanded.

Meanwhile, Wendy's has fallen behind, with higher beef prices and older stores dragging it down.

Wendy's share of U.S. burger chain sales fell from 11.5% in 2019 to 10.4% last year, according to Technomic, a market research company.

Wednesday, billionaire investor Nelson Peltz made an offer to buy the chain.

Peltz’s Trian Fund Management and other partners are offering Wendy’s $7.35 per share in cash, or a premium of nearly 19% over the stock’s latest closing price, in a deal that would take the company private, according to ABC News.

In a letter to the company’s board of directors, Peltz said going private “will deliver the best outcome for the broader stakeholder base.”

"The external environment has become increasingly challenging given the significant pressures on the U.S. consumer, economic uncertainty, persistent commodity inflation and intensifying competition, particularly within the quick-service restaurant burger category."

Wendy's Hasn't Commented on the Offer

Wendy's, which is based in Dublin, Ohio, has yet to comment on the offer.

At the end of 2025, Wendy's had 5,969 restaurants in the U.S. and 1,428 outlets in 38 countries.

They still serve up their fresh, not frozen, burgers at 146 New Jersey locations, including a restaurant just down the street from the radio station in Northfield, where I sometimes have lunch.

They still serve a pretty good, fresh burger.

What Would Happen to Wendy's Franchise Restaurants?

An estimated 95% of Wendy's restaurants are owned and operated by independent franchisees.

Selling the parent company would not void their individual franchise agreements.

The locally-owned NJ Wendy's franchisees would continue to operate under current licensing contracts, use the Wendy's brand, and follow corporate standards.

Meritage Hospitality Group, one of Wendy's largest franchise operators nationally, with more than 300 locations, filed for Chapter 11 bankruptcy protection in September.

This week, the company reportedly increased its plans to shutter as many as 60 of its Wendy's locations.

The Future of Wendy's

New corporate Wendy's CEO Bob Wright, who took over in May, hasn't hidden his view that Wendy's needs to focus on saving the more profitable locations. The decision on how many more locations will be closed falls to him.

Wendy's has posted six straight quarters of same-store sales declines, according to Yahoo.

Here's hoping Wendy's can right its business model and survive to continue serving fresh burgers into the future.