Burger King

Financing

Bankrupt Burger King franchisee Meridian closes 27 restaurants

The company is shuttering locations in Minnesota, Utah, Montana, Kansas, Nebraska and North Dakota and may close more restaurants.

Financing

Burger King franchisee Toms King is being sold for $33M out of bankruptcy

The big operator, which sought Chapter 11 bankruptcy protection in January and was put up for sale, is being sold to four different companies, including Burger King's former U.K. operator and a big Round Table Pizza franchisee.

The Bottom Line: The closure of 26 restaurants in Michigan is another demonstration that the fast-food burger chain has a lot of work to do in its comeback effort. And its issues date back more than 15 years.

Burger King is among a trio of approved buyers of most of the 90 units owned by Toms King Holdings, which declared bankruptcy in January. A court has yet to approve the deal.

EYM King, a Texas-based operator who the brand sued in February for not paying royalties, is closing the locations over the next few weeks.

The burger chain’s new culinary focus reflects head chef Chad Brauze’s experience and passion gained in Michelin-starred restaurants.

Meridian Restaurants Unlimited, which operates 118 Burger King restaurants in nine states out west, filed for Chapter 11 bankruptcy protection, blaming a combination of low sales and soaring inflation.

The franchisee, which operates one out of seven Burger King restaurants in the U.S., said it generated more cash than it has in two years as more of its customers paid the full price.

The new executive chairman of Restaurant Brands International believes the burger may be a better brand than Burger King right now. It may be key to the fast-food chain's U.S. comeback.

Restaurant Rewind: Old is new again as chains ranging from Outback to Wendy’s resurrect classic ad themes for another go. So where’s the beef in these new efforts?

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