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finance

Financing

Midwestern favorite Oberweis Dairy declares bankruptcy and cuts staff

 By Peter Romeo on Apr. 19, 2024

The ice cream chain intends to lay off staff in June and cut its costs in other ways, but to remain in operation following a Chapter 11 bankruptcy filing. It is struggling to find a buyer.

Financing

Proposed TGI Fridays sale is no home run, but has promise for both sides

 By Joe Guszkowski on Apr. 19, 2024

The $220 million all-stock deal would get Fridays’ owner TriArtisan out of its decade-long investment and give the struggling chain a like-minded partner in franchisee Hostmore, experts say.

Financing

Red Lobster is struggling to pay its bills, vendors say

By Joe Guszkowski on Apr. 18, 2024

Credit data confirms the seafood chain has a large number of overdue balances as it reportedly considers a bankruptcy filing.

Technology

Dynamic pricing startup Juicer raises $5.3M

By Joe Guszkowski on Apr. 09, 2024

The company uses AI and historical sales data to adjust restaurants' menu prices in real time.

Financing

Blackstone is said to be pursuing a purchase of Jersey Mike's for around $8B

By Peter Romeo on Apr. 05, 2024

The sandwich chain is reportedly open to a deal with the private equity firm or another suitor, according to media reports, though talks have cooled more recently.

Leadership

Outback Steakhouse parent Bloomin' Brands promotes Michael Healy to CFO

By Joe Guszkowski on Apr. 04, 2024

The longtime Bloomin’ official was most recently the company’s head of global business development. He replaces Chris Meyer, who is retiring.

Workforce

Tired of soaring wage rates, a Florida burger joint is turning its employees into co-owners

By Peter Romeo on Apr. 04, 2024

Jaws Jumbo Burgers plans to sell 30% of future units to the staffs who'll run them.

Financing

Despite last week's reduction offer, Mastercard is increasing some credit-card fees

By Peter Romeo on Apr. 03, 2024

A business group learned the financial giant intends to increase what it collects from associated banks, signaling a possible bump in what merchants are charged. But Mastercard stresses that the changes are unrelated to swipe fees.

Operations

BurgerFi defaults on its credit agreement

By Lisa Jennings on Apr. 01, 2024

The parent company of the BurgerFi and Anthony's Coal Fired Pizza & Wings restaurant chains fell out of compliance with its loan agreement amid weak sales and financial losses. But the CEO insists turnaround efforts are taking hold.

Emerging Brands

Punch Bowl Social plans growth with two acquired concepts

By Lisa Jennings on Mar. 29, 2024

Chicago-based eatertainment chain Punch Bowl Social has acquired two new brands that it plans to grow. One is karaoke-concept Voicebox and the other is an immersive art experience called Sweet Tooth Hotel. Both have cocktail bars.

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