Jack in the Box plans to close dozens of restaurants by the end of the year, totaling 72 closures so far. The franchise aims to boost revenue and cut costs due to declining customer numbers, rising beef prices, and high debt. They reported a net loss of $80.7 million for the fiscal year. CEO Lance Tucker emphasized the need for a simplified business model. The company also sold Del Taco for $119 million as part of its turnaround plan. Jack in the Box operates around 2,200 restaurants mainly in California, Texas, and Arizona.

Read more at Yahoo Finance: Jack in the Box shut down more than 70 stores with more expected by year’s end over financial struggles