Nelson Peltz might take Wendy’s private following six straight quarterly sales declines as customers flee its poor franchise models and bad marketing

Billionaire Nelson Peltz’s Trian (with partners rumored to include Flynn Group and BlueFive) may try to take Wendy’s private — Peltz/Trian control over ~24% of the stock and shares jumped ~12% on the news.
Wendy’s is bleeding customers and stores: six straight quarters of same-store sales declines, Q2 traffic down ~12.5%, and 289 U.S. locations closed in H1 2026; the chain also cut its dividend and pulled its 2026 outlook.
Management blames faded food quality, inconsistent franchise execution, overreliance on one-off promos (and a botched dynamic‑pricing test) — all making it harder to get customers back through the door.