Wendy's Franchisee Closes Dozens of Stores
A major Wendy's franchisee is shuttering dozens of underperforming locations following a Chapter 11 bankruptcy filing. Meritage Hospitality Group cited profitability issues and record beef prices as the primary reasons for the store closures.
Insights:
Wendy's franchisee Meritage Hospitality Group closed 23 underperforming restaurants in October after filing for Chapter 11 bankruptcy. The closures span multiple states, following the operator's September court filings outlining plans to shutter 60 stores. The bankruptcy filings cite profitability pressures and record beef prices across the United States.
