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A Subway franchisee group is asking for changes to its latest offer

 By Jonathan Maze on Jan. 26, 2026

More than a quarter of franchisees signed a petition through an independent association asking for changes to the chain's "Sub Club" redemption. But the company said the program is off to a "strong start."

Financing

Fat Brands is sued by one of its largest bondholders over Twin Peaks stock

 By Jonathan Maze on Jan. 26, 2026

352 Capital, a subsidiary of Jefferies Financial Group, is suing the fast-food restaurant chain operator for refusing to hand over shares in the casual-dining brand as collateral.

Financing

Smithfield Foods is buying Nathan's Famous for $450M

By Jonathan Maze on Jan. 22, 2026

The Chinese pork producer will be buying the hot dog maker and owner of the Nathan’s Famous chain for $102 per share.

Financing

Steak n Shake's owner wants to raise $500M in a stock sale

By Jonathan Maze on Jan. 21, 2026

Biglari Holdings, whose stock has doubled over the past year, has filed to sell 11.5 million shares to provide the company with a “strategic reserve.”

Financing

A lot of burger chains are doing just fine

By Jonathan Maze on Jan. 21, 2026

Data from Five Guys, Shake Shack, Steak n Shake and others point to a resurgence of the burger last year despite problems at many fast-food chains.

Financing

Popeyes' new management team gets a big, early test

By Jonathan Maze on Jan. 16, 2026

The Bottom Line: The bankruptcy filing of Sailormen is putting pressure on the fast-food chicken chain while proving that franchisors should pay close heed to their franchisees' finances.

Financing

A big Popeyes franchisee files for bankruptcy

By Jonathan Maze on Jan. 15, 2026

Sailormen, which operates 130 locations of the fast-food chicken chain in Florida, struggled with heavy debt and liquidity challenges. But the company says the filing doesn’t reflect the state of the brand.

Financing

Krispy Kreme is hoping for a duller 2026

By Jonathan Maze on Jan. 14, 2026

The doughnut chain had a brutal 2025 with the collapse of its McDonald’s partnership and the shift in focus to cutting costs and paying down debt. The company is planning on a calmer, and better, 2026.

Marketing

Taco Bell is doubling down on value

By Jonathan Maze on Jan. 13, 2026

The Mexican fast-food chain is introducing a Luxe Value Menu featuring 10 items priced at $3 or less following a successful test last year.

Financing

Lessons in investing from David Rubenstein

By Jonathan Maze on Jan. 13, 2026

The Bottom Line: The cofounder of The Carlyle Group, an active investor in the restaurant space, revealed the private-equity firm’s return on its McDonald’s China investment and dished out wisdom.

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