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Jonathan Maze

Editor-in-Chief

Articles by
Jonathan Maze

Page 98
Financing

Discounts hurt Wendy’s sales

The company’s stock price fell after same-store sales declined for the first time in years.

Leadership

Cliff Hudson to retire as Sonic CEO

Claudia San Pedro will lead the company after it is sold to Inspire Brands.

The company’s North America same-store sales declined nearly 10% in the third quarter.

Dallas-based franchisee Sun Holdings will take control of the 169-unit chain.

Arc Group, owner of Dick’s Wings, has been working to buy the chain for months.

But the company doesn’t get the valuations that some of its competitors have received, says RB’s The Bottom Line.

Weak traffic, high costs and growing competition have taken their toll on chains.

The company, which also owns D’Angelo Grilled Sandwiches, said shifting consumer tastes means it needs fewer locations.

Despite a trend toward industry consolidation, CEO Ritch Allison says the company has enough growth on its own, says RB’s The Bottom Line.

PGHC Holdings closed 95 locations and has a sale agreement with Wynnchurch Capital.

Steve Ritchie and others would get paid if they lose their jobs following a sale, says RB’s The Bottom Line.

The fundraising round would reportedly give the company a $2.25 billion valuation.

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