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Bankruptcy

Financing

Why Steak & Ale is making a comeback, 15 years after shutting down

 By Jonathan Maze on Nov. 21, 2023

A Deeper Dive: Paul Mangiamele, the owner of Legendary Restaurant Brands, explains his decision to bring the casual dining chain back so long after it filed Chapter 7 bankruptcy.

Financing

Remodels, a pandemic and Brazil led to the bankruptcy of a Wendy's franchisee

 By Jonathan Maze on Nov. 15, 2023

Starboard Group, the Wendy’s franchisee that sought debt protection this week, said a number of factors converged that led to the filing, including a failed Brazilian joint venture.

Financing

A large Wendy's franchisee declares bankruptcy

By Jonathan Maze on Nov. 14, 2023

Florida-based Starboard Group sought debt protection for its Wendy’s restaurants. It is the latest in a series of restaurant companies to take that step.

Financing

Subway and Starbucks oust their Brazilian operator

By Jonathan Maze on Nov. 12, 2023

SouthRock Capital, a major food and beverage operator in the country, had its master franchise agreement with Subway terminated after less than a year and lost its license to operate Starbucks.

Financing

The pandemic is not yet done with restaurants

By Jonathan Maze on Nov. 09, 2023

The Bottom Line: A rash of bankruptcy filings shows that small brands and franchisees continue to deal with the aftermath of the pandemic, three and a half years later.

Financing

A third major Burger King franchisee declares bankruptcy

By Jonathan Maze on Nov. 08, 2023

Premier Kings, a 172-unit Alabama and Georgia operator whose owner died in 2022, declared Chapter 11 bankruptcy protection, citing substantial operating losses.

Financing

Clover Food Lab, once a hot concept, declares bankruptcy

By Jonathan Maze on Nov. 06, 2023

The 12-unit Massachusetts plant-based chain sought debt protection after sales didn’t recover as expected and financing froze just as it kicked off expansion plans.

Financing

A small Florida chain files for bankruptcy and blames the pandemic

By Jonathan Maze on Oct. 31, 2023

Icebox Cafe, which operates four restaurants plus some vending machines, said dealings with “aggressive lenders” had a role in its filing.

Financing

A Burger King franchisee gets sold out of bankruptcy, and a big buyer is Burger King

By Jonathan Maze on Sep. 27, 2023

Meridian Restaurants, the large operator that declared bankruptcy in March, is selling 70 of its 91 remaining restaurants to several different franchisees as well as the brand following an auction this month.

Operations

Salad concept Green District files Chapter 11 bankruptcy

By Lisa Jennings on Aug. 24, 2023

The fast-casual chain was born in Kentucky and had big plans for franchise expansion before rising interest rates put a damper on growth, the company said.

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