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A 43-location Subway franchisee has filed for bankruptcy

 By Jonathan Maze on Feb. 02, 2026

MTF Enterprises, which operates locations in Pennsylvania, New Hampshire, Maine and Virginia, declared Chapter 11 bankruptcy after a merchant cash advance lender put a lien on its sales revenue.

Financing

Bankrupt Fat Brands' stock gets delisted and takes off anyway

 By Jonathan Maze on Jan. 30, 2026

The owner of Twin Peaks and Round Table Pizza won’t fight a delisting notice over its recent Chapter 11 bankruptcy filing. And yet its stock rose 20%.

Financing

Jersey Mike's is reportedly planning an IPO, just one year after its sale to Blackstone

By Jonathan Maze on Jan. 28, 2026

The sandwich chain has hired advisors who could take the company public as soon as this year, according to Bloomberg. The chain could get a valuation of as much as $12 billion.

Financing

Service improvements, and the Bearista cup, drove Starbucks sales last quarter

By Jonathan Maze on Jan. 28, 2026

The coffee shop giant said its domestic same-store sales rose 4% in the period, its best performance in two years, as the holiday product launch and its new service model drove higher transactions.

Financing

Fat Brands, burdened with heavy debt, declares bankruptcy

By Jonathan Maze on Jan. 27, 2026

The owner of Fazoli’s, Round Table Pizza and several other brands is seeking Chapter 11 debt protection. The company’s whole business securitization was “starving the business.”

Financing

McDonald's franchisees send a message with a 'bill of rights'

By Jonathan Maze on Jan. 27, 2026

The Bottom Line: The National Owners Association, an independent group of the fast-food chain’s operators, has approved a list of 15 standards it considers vital to fair franchising, including the right to set prices.

Financing

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

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.

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