Burger King, a well-known fast food chain, is set to shut down between 300 to 400 restaurants before 2023 concludes, as stated by the CEO of Restaurants Brands International In., Joshua Kobza.

He disclosed during a call announcing the Q1 earnings results that the fast-food giant has been closing ‘a couple hundred’ Burger King locations every year.

This year alone, a few large franchises, including Toms King, EYM King, and Meridian Restaurants Unlimited, have filed for bankruptcy.

Additionally, the company has shut down 124 Burger King restaurants, lowering the total number of locations in the United States to below 7,000.

Kobza added that the company aims to work with smaller franchises to enhance the franchise system’s overall health.

They plan to partner with high-quality operators who will operate regionally and have local ownership to build or acquire existing restaurants.

"One of the most important factors is the willingness of our franchisees who have several restaurants to work with us and commit to implementing the changes necessary," he said.

Furthermore, he stated that Burger King’s willingness to work with franchisees who possess multiple restaurants is critical to effecting the necessary changes.

The exact number of restaurant closures is uncertain and will rely heavily on the pace of business recovery, which has already begun, according to Kobza.

The company did not indicate when or which restaurants would close. Despite the closures, Burger King U.S. experiences an 8.7% sales rise.