Financial PerformancePotential turnaround investments limit 2025 margin visibility, posing a risk to future financial estimates.
Growth ChallengesNorth American unit closures have offset half of the gross openings since 2020, and international closures have been much more severe.
Structural IssuesExcessive management turnover, high closure rates, poor franchisee health, over reliance on single-unit franchisees, and ever-changing international strategy are structural issues that have plagued the company.