"Some of these restaurants can be very old. So, when you think of a 70-year-old plus brand, you have a lot of restaurants that have been out there for a very long time," he told investors at the meeting.

Meanwhile, Denny's reported its fifth straight quarter of declines in sales at locations that were open for at least a year. Since the Wuhan coronavirus (COVID-19) pandemic, the restaurant has not returned to its usual around-the-clock hours in around a quarter of its locations. Because of this, the chain has now officially slashed its hours. This came after Dunn said it "didn't make sense" especially since foot traffic and changing consumer behaviors continue to show as effects from the pandemic.