Dunkin' Will Permanently Close 450 Convenience Store Locations by 2021
All 450 Dunkin' locations set to close are located inside Speedway gas stations
America will be running on a little less Dunkin' come 2021.
The company, which dropped "Donuts" from its brand name in January 2019, announced in a statement obtained by PEOPLE that it will be closing 450 locations inside Speedway gas stations around the country by the end of this year.
"Dunkin’ reached an agreement with Speedway earlier this year to exit the approximately 450 Speedway owned and operated limited menu Dunkin’ locations along the east coast by the end of 2020," the company said.
The decision was first announced in the company's fourth quarter earnings call in February, prior to the coronavirus economic shutdown.
Dunkin' said in the statement that sales from the Speedway locations made up less than 0.5% of U.S.-based margins in 2019.
The closure announcement follows the termination of the coffee chain's partnership with Hess, which was acquired by Speedway in 2014.
"By exiting these sites, we are confident we will be better positioned to serve these trade areas with Dunkin’s newest Next Generation restaurant design that offers a broader menu and modern experience," the statement said. "We also remain committed to growing our presence in gas and convenience locations, as well as other non-traditional locations, including airports, universities, travel plazas and military installations."
Despite it's plans for closure, Dunkin' said that "very few of the approximately 450 Speedway owned and operated limited menu Dunkin’ locations have closed to date."
However, the coffee and donut chain said it remains on track to close all Speedway locations by the end of the year.
In June, Dunkin' announced its intent to hire up to 25,000 new employees as states continued with the process of reopening after COVID-19 shutdowns.
To help fill the positions, the company launched its “first-ever national advertising campaign aimed at recruitment."
The company also announced a new partnership with Southern New Hampshire University, “to offer an online college education to franchise employees.”