Finances and Deals
-
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 Aneurin Canham-Clyne • Oct. 9, 2024 -
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 -
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 -
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 Aneurin Canham-Clyne • Sept. 24, 2024 -
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 Aneurin Canham-Clyne • Sept. 17, 2024 -
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 Aneurin Canham-Clyne • Sept. 13, 2024 -
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 Julie Littman , Aneurin Canham-Clyne • Updated Sept. 11, 2024 -
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 Aneurin Canham-Clyne • Sept. 9, 2024 -
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 Julie Littman • Sept. 6, 2024 -
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 Julie Littman • Sept. 6, 2024 -
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 Julie Littman • Sept. 5, 2024 -
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 Julie Littman • Sept. 4, 2024 -
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 Julie Littman • Aug. 30, 2024 -
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 Aneurin Canham-Clyne • Aug. 27, 2024 -
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 Aneurin Canham-Clyne • Aug. 21, 2024 -
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 Julie Littman • Aug. 20, 2024 -
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 Julie Littman • Aug. 19, 2024 -
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 Julie Littman • Aug. 9, 2024 -
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 Aneurin Canham-Clyne • Aug. 8, 2024 -
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 Julie Littman • Aug. 5, 2024 -
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 Julie Littman • Aug. 5, 2024 -
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 Julie Littman • July 31, 2024 -
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 Aneurin Canham-Clyne • July 30, 2024 -
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 Julie Littman • July 25, 2024 -
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 Julie Littman • July 23, 2024 -
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 Julie Littman • July 23, 2024