Burger King franchise with 118 restaurants files for bankruptcy after accruing debts of $14million triggering closures across six states: Will your local be closing?
Higher costs and wages had hurt the company looking to build back after Covid
Follows separate closure of 26 outlets this month, with 424 staff losing jobs
By James Reynolds
Published: 08:09 EDT, 13 April 2023 | Updated: 10:25 EDT, 13 April 2023
A Burger King franchise with more than 100 locations nationally will close locations across six states having reportedly racked up $14mn in debt.
Meridian Restaurants Unlimited filed for bankruptcy in March, struggling with rising food costs and poor sales.
Court filings previously revealed the company was closing 27 stores in Minnesota, Utah, Montana, Kansas, Nebraska and North Dakota.
The franchisee said it was 'possible, if not likely' they would be pressed to close more stores as they negotiated rent and operational improvements with landlords.
Burger King has had to close stores across the country as owners struggle to negotiate rent and profits fall as food and wage costs soar.
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https://www.dailymail.co.uk/news/article-11968777/Burger-King-franchise-118-restaurants-files-bankruptcy-accruing-debts-14million.html