Jack in the Box plans to close 40 underperforming company-run stores

Jack in the Box plans to close 40 stores

SAN DIEGO — Jack in the Box Inc. plans to shutter 40 underperforming company-run restaurants before Sunday.

The fast food chain said Wednesday that it anticipates about $8.5 million to $9.5 million in fourth-quarter impairment charges related to the closings and approximately $21 million to $25 million in lease-related costs.

The restaurants being closed are mostly in the Southeast and Texas. The closings coincide with the end of the company’s fiscal year.

Jack in the Box lowered its full-year earnings outlook in August and said that high unemployment levels in the U.S. were hurting its sales.

Jack in the Box, based in San Diego, has more than 2,200 of its namesake restaurants in 18 states. It also runs and franchises Qdoba Mexican Grill through a subsidiary. There are more than 500 Qdobas in 43 states and the District of Columbia.