GoKawiil
Tech News
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.