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In late summer, 16 freight companies filed for bankruptcy, citing soaring diesel prices as a key factor. These ranged from small single-vehicle operators to larger fleets, with some based in Texas and Florida. The spike in fuel costs has strained profit margins across the trucking industry, especially for smaller firms unable to pass costs onto customers.
Meritage Hospitality Group, one of Wendy's largest franchisees, closed another round of restaurants on Friday, marking the second consecutive weekend of permanent shutdowns. The closures follow the company's Chapter 11 bankruptcy filing as it works to restructure its operations.
A large Wendy's franchisee that filed for Chapter 11 bankruptcy protection earlier this month has disclosed in new court filings that it could close as many as 30 restaurants in the coming weeks. Five specific locations slated for closure have already been identified as part of a cash collateral agreement tied to the bankruptcy proceedings.
An amended franchise disclosure document shows TGI Fridays has shuttered nine additional restaurants in the United States this year. The closures continue a downsizing trend that began after the casual dining chain filed for Chapter 11 bankruptcy protection in late 2024.
Meritage Hospitality Group, which runs 314 Wendy's locations across 15 states, filed for Chapter 11 bankruptcy protection. Wendy's franchising arm, Quality Is Our Recipe LLC, is listed as its largest unsecured creditor, owed roughly $24.9 million in deferred franchise fees. Meritage says it will continue operating its restaurants, including its Bojangles and independent locations, during restructuring.
A major Wendy's franchisee operating 314 restaurants has filed for Chapter 11 bankruptcy protection, citing what it called sustained system-wide headwinds alongside broader struggles facing the parent company. The filing marks a significant setback for Wendy's, which has already been dealing with declining sales and a contracting store count.
Red Lobster is shutting down additional restaurant locations across the U.S. in 2026 as part of an ongoing effort to reduce its footprint following its 2024 Chapter 11 bankruptcy filing. The seafood chain is trying to rebuild its brand while continuing to scale back its physical presence.