NEW YORK -- Jack in the Box plans to close approximately 10% of its locations and is exploring a sale of its Del Taco brand amid a broader overhaul of the fast food chain that is struggling as customers cut back on spending. The 74-year-old chain announced Wednesday that it's planning to close 150 to 200 "underperforming" locations, with 80 to 120 restaurants closing by the end of the year. Jack in the Box has about 2,200 restaurants, which are primarily located on the U.S. West Coast. The closures are aimed at "addressing our balance sheet to accelerate cash flow and pay down debt," said Jack in the Box CEO Lance Tucker in a statement, with the chain hoping the pay off $300 million in debt over the next two years. He hopes the closures will lead to "consistent, net positive unit growth." It's also exploring "strategic alternatives" for Del Taco, a Mexican-inspired chain that it bought just three years ago.