1,794 restaurants permanently closed in US in March, down -29% from February and the lowest since last September, however this is higher than the 1,581 closures a year ago in March 2021. There were 882 temporary closings, which is the lowest in the past year and down from 1,594 in March 2021. Permanent closings were led by Subway which closed another 59 of their over 22,000 locations, and Pizza Hut closed 17 of their over 6000 locations. New restaurant openings increased by 10% to 847. Openings were led by Subway (5) Chili’s(4), It’s Just Wings(4), and Taco Bell (4). Texas was the state with the largest number of openings at 85.
In Canada, there were 178 restaurants that permanently closed in March. That’s down 36% from February and the lowest number of closings in the past 12 months. The number of temporary closings were also the lowest in the past year (117). There were 128 openings in March, down 28% from February. 51 of the openings were in Ontario.
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The Store Connect data portal is updated on the first of every month, with “by location” information across North America.