Finances and Deals

  • An image of a sign with a red apple and the word Applebee's
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    Andrew Burton via Getty Images
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    Applebee’s franchisee files for bankruptcy after creditor lawsuit

    Louisiana Apple’s major creditor, City National Bank of Florida, claimed the operator and the brand transferred control of its restaurants in a breach of credit agreements. 

    By • Oct. 9, 2024
  • Grubbrr's kiosks on display at the National Restaurant Association Show in 2024.
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    Aneurin Canham-Clyne/Restaurant Dive
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    9 restaurant industry trade shows to attend in 2025

    The coming year is brimming with restaurant conferences and trade shows covering key issues for the business sector, from franchising strategy to economic forecasts.

    By Restaurant Dive Staff • Oct. 1, 2024
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    VioletaStoimenova via Getty Images
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    Trendline

    Restaurant Financing

    With ongoing macroeconomic pressures facing restaurants, operators are entering into alternative financing, mergers and acquisitions and even bankruptcy to sustain their businesses. 

    By Restaurant Dive staff
  • A drive-thru menu board with a speaker box at Taco John's
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    Courtesy of Presto Automation
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    Presto Automation puts itself up for sale

    The tech firm, which was delisted from the Nasdaq earlier this year, does not anticipate changes to its operations as a result of a sale.

    By • Sept. 24, 2024
  • BurgerFi franchisee in Alpharetta, Georgia
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    Permission granted by BurgerFi
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    BurgerFi secures funds to operate through bankruptcy

    A court approved $3.5 million in funding from TREW Capital Management, giving the burger brand sufficient cash to operate without closing stores.

    By • Sept. 17, 2024
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    Permission granted by MOD Pizza
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    Mod Pizza will refranchise corporate stores

    The pizza chain’s new owner, Elite Restaurant Group, is undertaking a comprehensive refranchising effort at the largely company-operated brand.

    By • Sept. 13, 2024
  • An exterior image of a BurgerFi restaurant
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    Permission granted by BurgerFi
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    BurgerFi declares bankruptcy

    The company has struggled with same-store sales declines and net losses for several quarters, mirroring the problems of recent Chapter 11 filings for Red Lobster and Buca di Beppo.

    By , • Updated Sept. 11, 2024
  • An image of TGI Fridays signage with red and white stripes
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    Bruce Bennett via Getty Images
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    TGI Fridays acquisition falls through, bondholders seize assets

    Hostmore still wants to sell its restaurants after the U.K. franchisee’s acquisition plan was torpedoed by the casual dining brand's manager termination event.

    By • Sept. 9, 2024
  • An image of various dishes from Modern Market's menu.
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    Permission granted by Modern Market Eatery
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    Thrive Restaurant Group buys Modern Market Eatery

    Thrive previously committed to opening 41 units as Modern Market’s largest franchisee, but felt that buying the brand was a natural next step in its growth.

    By • Sept. 6, 2024
  • An image of a white and red building with Red Lobster signage on the front.
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    Brandon Bell via Getty Images
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    Court approves Red Lobster’s restructuring, buyout plan

    The seafood chain will emerge from bankruptcy with P.F. Chang’s former CEO at the helm and $60 million in new funding.

    By • Sept. 6, 2024
  • An evening photo of Topfgolf with backlit lights and a white sign that says Topgolf.
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    Courtesy of Topgolf
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    Topgolf will be spun off by its parent company

    Management pursued a full strategic review of Topgolf following disappointing same-venue sales, and determined separate companies would enhance strategic focus.

    By • Sept. 5, 2024
  • An image of a Playa Bowls with a table and stools. There is a ping pong table in the background and a wall with an anchor that says East Brunswick.
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    The image by SeichanGant is licensed under CC BY-SA 4.0
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    Playa Bowls acquired by Sycamore Partners

    Under previous owner Tamarix, the fruit bowl chain added over 150 locations. It expects to speed up growth under its new owner.

    By • Sept. 4, 2024
  • A photograph of a black sign that says "Starbucks Coffee Company" in front of a brick building.
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    David Ryder via Getty Images
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    Investor sues Starbucks, alleging ‘false and misleading statements’

    The shareholder claims the company provided false information about its overall performance and growth potential outside of the U.S. Starbucks said the allegations are without merit.  

    By • Aug. 30, 2024
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    Courtesy of Roti
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    Roti becomes the latest fast casual brand to file for Chapter 11

    The 19-unit brand cited the end of its rent deferral agreements as a contributing factor in seeking bankruptcy protection.

    By • Aug. 27, 2024
  • Corner Bakery storefront
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    Thai Phi Le/Restaurant Dive
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    Suit alleges Boston Market owner Jay Pandya looted Corner Bakery Cafe

    Corner Bakery’s new owner, SSCP Restaurant Investors, say Pandya bled the brand dry through cash transfers to his management firm. 

    By • Aug. 21, 2024
  • A person wearing a white shirt holds a bat while a green ball floats in the air. There is a projection screen on the right with a baseball field.
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    Permission granted by Home Run Dugout/Courtesy of Alex Montoya
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    Home Run Dugout secures $22.5M, plans expansion

    The baseball-centric entertainment concept already plans to open a location in San Antonio, Texas, and Scottsdale, Arizona.

    By • Aug. 20, 2024
  • An exterior image of a BurgerFi restaurant
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    Permission granted by BurgerFi
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    BurgerFi might go bankrupt

    Net losses are expected to be $18.4 million for the second quarter, and cash flow is only $4.4 million, marking a stark financial picture for the chain.

    By • Aug. 19, 2024
  • An image of TGI Fridays signage with red and white stripes
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    Bruce Bennett via Getty Images
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    Hostmore, TGI Fridays deal delayed

    Management says not to expect a Q3 2024 closure, after the companies revised their combined business plan to a full-franchised model.

    By • Aug. 9, 2024
  • Presto's vision, touch and voice products
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    Permission granted by Presto
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    Presto Automation delisted from Nasdaq

    Presto’s Interim CEO predicted delisting will let the firm pursue a startup like capital strategy, as its operations shift to the development of new voice-AI.

    By • Aug. 8, 2024
  • An image of a beige brick building with a large sign that says "Buca di Beppo."
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    Clayton Chase via Getty Images
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    Buca di Beppo files for Chapter 11 bankruptcy, facilitates sale

    The chain closed 13 units last week after shuttering numerous locations across the country over the past several months.

    By • Aug. 5, 2024
  • An oval shaped brick facade with a "world of beer" signage in metal gray.
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    Retrieved from World of Beer Franchising on August 05, 2024
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    World of Beer among latest casual chains to file Chapter 11 bankruptcy

    The craft brew chain’s financial struggles began shortly after it instituted a food and spirit program in 2013 that was met with resistance from franchisees.

    By • Aug. 5, 2024
  • A rendering of a sports bar with people scattered throughout on the right there are batting cages and screens.
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    Permission granted by Batbox
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    Batbox secures $7.3M financing, plots US expansion

    The baseball-focused eatertainment chain will open its first location in Texas in early 2025 and plans to have 25 units by 2030.

    By • July 31, 2024
  • A drive-thru menu board with a speaker box at Taco John's
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    Courtesy of Presto Automation
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    Presto CEO says the business will survive if delisted

    The voice AI company, which went public in 2021, could benefit from a NASDAQ delisting that lets it act more like a start-up, Gee Lefevre said.

    By • July 30, 2024
  • An image of Red Loster sign on the outside of a restaurant
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    Justin Sullivan via Getty Images
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    Red Lobster expects positive net income by fiscal 2026

    The chain also anticipates adjusted EBITDA growth of 43% from fiscal 2025 to 2027 after emerging from Chapter 11.

    By • July 25, 2024
  • Pizza Hut new store concept retrieved by Marketing Dive on April 5, 2021
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    Courtesy of Pizza Hut
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    Pizza Hut franchisee declares bankruptcy

    EYM Group has been in a legal battle with Pizza Hut over the past few months and closed over a dozen stores in Indiana and Ohio in June.

    By • July 23, 2024
  • A white building with shinges and a logo of a red lobster
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    Brandon Bell via Getty Images
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    Red Lobster to be acquired by stalking horse bidder

    After it failed to receive any qualified bids, the casual chain will continue the sales process with RL Purchaser, an entity organized and controlled by secured lender Fortress Credit Corp. 

    By • July 23, 2024