Bojangles’ will soon open three restaurants that are under construction in North Carolina, including one in the new Waverly development in south Charlotte.
The other two will be in Boone and in Wadesboro, the Charlotte-based chicken-and-biscuits chain said in a statement this week.
Bojangles’ said the new restaurants will include elements of the company’s newest restaurant designs, including free Wi-Fi and a revamped food display area. Bojangles’ said the Boone location is a full renovation of an older store, and the new Wadesboro restaurant replaces an older one nearby. The new Charlotte location in Waverly opens later this year, the company said.
Bojangles’ opening new North Carolina stores shows that the company is looking to eke out a profit in areas where the brand is already well-known, and not in a new market.
As any corporation does when it goes public, Bojangles’ leaders focused on growth when the company had its initial public offering in 2015. Since then, Bojangles’ has opened stores in several new locations where the brand was not a household name like it is in the Carolinas. The chain hasn’t done so well in some of those areas, however.
In its most recent earnings report, Bojangles’ said it closed 10 company-operated stores in four states in its adjacent markets, including Alabama, Kentucky, Tennessee and Virginia. The company has said it is instead going to focus on growing its core markets.
“These restaurants in North Carolina are a great example of what we’ve been saying about how Bojangles’ plans to grow in our core markets, while franchising will continue to lead growth in adjacent markets,” said Tony Hopson, senior vice president of operations for Bojangles’.
Given Bojangles’ recent struggles — including a decline in profits and a drop in share price — experts say the company could soon be a takeover target.