Burger King

Leadership

Burger King franchisee Carrols names Deborah Derby CEO

The former Toys R Us executive will take over leadership of the fast-food burger chain’s largest franchisee.

Financing

Here's how much Burger King's parent paid Patrick Doyle to be executive chairman

The former CEO of Domino's Pizza, lured out of retirement by Restaurant Brands International last year, was paid $117 million in stock and option awards.

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

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.

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