RICHMOND, Va. (WRIC) — Famous Dave’s is exiting the Richmond market with the closure of three barbeque restaurants in the area.
The Minneapolis-based company announced the shuttering of the restaurants on Monday.
According to a press release, the Minneapolis based company is closing all three Richmond area locations effective immediately. Financial issues are the reasons given.
It was unclear how many employees were impacted. Employees were surprised this morning when they learned of the news, as they were not given any advance notice of their job loss, just days after Christmas.
In a news release, CEO Ed Rensi says the move comes as Famous Dave’s evaluates the performance of its company-owned stores. He said the company is working toward returning to positive same store sales and improved profitability as it actively pursues its re-franchising strategy.
CEO Ed Rensi says “As we have stated before, the Company’s long term goal is to operate a portfolio of company-owned restaurants representing approximately 10% to 15% of the total system-wide restaurant base; this will create re-franchising opportunities, for both existing and new franchisees, for the majority of the remaining company-owned locations. We believe that this strategy will allow us to focus our human and financial capital on opportunities that will drive the greatest increase in company performance and long-term, per share, shareholder value.”
The three locations in the Richmond area that closed are on Midlothian Turnpike near Robious Road, Broad Street in Henrico County, and near Virginia Center Commons.
Famous Dave’s of America Inc. has 50 company-owned restaurants and franchises nearly 140 other locations in 34 states, Puerto Rico and Canada.
Stay with 8News for updates.