MONETABRIEF - Sri Lanka's John Keells Holdings said the first Wendy's restaurant will open in November 2026 and the second in January 2027, even as its parent firm is struggling in the US amid high inflation and rising beef prices.
"Operational and marketing preparations ahead of the launch are progressing well," John Keells Holdings Chairman Krishan Balendra told shareholders in the interim accounts.
Sri Lanka is opening Wendy's as rival McDonald has closed its doors in Sri Lanka after a legal dispute with the island's franchisee which was hit during Covid.
Wendy's had closed 240 restaurants in the US in 2024 as it faced higher costs and lost lower income customers.
It is planning to close another 358 locations where sales had declined, US media reported. Michigan-based Meritage Hospitality Group which operates 314 Wendy’s restaurants in 15 states had filed for bankruptcy after the chain tried to terminate is franchise.
Investor Nelson Pelt has made a take-over offer and said he will take the company private re-structure it.
"Wendy’s sits at a critical juncture," Peltz was quoted as writing to the board by US-based ABC news.
"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 QSR (quick service restaurant) burger category."
US has faced high inflation for years amid a ample reserves regime and (excess liquidity) and floor system or single policy rate operated by the Federal Reserves.
Like Wendy's the US goverment is also sleepwalking towards a debt crisis. (Colombo/Nov04/2026)