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acquisitions

Financing

BurgerFi International declares Chapter 11 bankruptcy

 By Jonathan Maze on Sep. 11, 2024

The owner of its flagship burger brand and Anthony’s Coal-Fired Pizza has been struggling with deepening losses in recent months.

Financing

Modern Market Eatery acquired by its first franchisee

 By Lisa Jennings on Sep. 09, 2024

Formerly a sister brand of Qdoba, the fast-casual Modern Market joins the multi-brand portfolio of Thrive Restaurant Group.

Financing

TGI Fridays' would-have-been buyer gets a harsh lesson

By Jonathan Maze on Sep. 09, 2024

The Bottom Line: Hostmore, the U.K. franchisee that has backed off its purchase of the casual-dining chain, cannot sell its restaurants for their debt. Welcome to the modern market for restaurant mergers and acquisitions.

Financing

Hostmore calls off its purchase of TGI Fridays

By Jonathan Maze on Sep. 09, 2024

The U.K.-based operator backed off after the casual-dining chain lost control of its assets. The news sent Hostmore's shares down 91%.

Financing

TGI Fridays loses control of most of its assets

By Jonathan Maze on Sep. 06, 2024

A consulting firm will take over many of the casual-dining chain's management functions after a trustee on its bonds declared a “manager termination event.”

Financing

Breakwater Management may acquire Tender Greens and Tocaya

By Lisa Jennings on Sep. 06, 2024

The lender is the stalking horse bidder for parent One Table Restaurant Brands, which has scheduled a bankruptcy auction later this month.

Financing

Restaurant buyers have little interest in actual restaurants

By Jonathan Maze on Sep. 05, 2024

The Bottom Line: There is a clear line in what restaurant chain buyers want right now. They want franchisors, not the restaurants themselves.

Financing

Arizona-based Wildflower acquired by Japan-based restaurant conglomerate for $28.2M

By Lisa Jennings on Sep. 04, 2024

It's the second U.S. restaurant brand buy for Tokyo-based Create Restaurants Holdings, which also bought Il Fornaio in 2019.

Financing

Struggling Topgolf to be spun off

By Jonathan Maze on Sep. 04, 2024

Topgolf Callaway Brands said it plans to separate into two companies just four years after it acquired the eatertainment chain.

Financing

Why it's so hard to revitalize a bankrupt restaurant chain

By Jonathan Maze on Sep. 03, 2024

The Bottom Line: A host of investment companies have been snapping up restaurant companies at bargain prices. Getting them back into growth mode is the hard part.

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