Noodles & Company
(Nasdaq: NDLS) will close 16 restaurants by the end of this year after
company officials on Thursday reported a net-income loss of $9.8 million
for the third quarter.
The loss
included a $16.2 million pre-tax impairment charge related to 25
restaurants, several of which will be closing, according to a news
release from the Broomfield-based fast-casual restaurant chain. Company
officials estimated they will incur another $5 million in similar
charges during the fourth quarter related to cash-lease obligations,
broker commissions and other costs associated with the closures,
including employee severance costs.
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