Finances and Deals: Page 2
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Boogich via Getty Images
Why TGI Fridays filed for bankruptcy
The casual chain’s fortunes soured this year as scores of stores shut and bondholders took control of its assets, ending a proposed merger.
By Aneurin Canham-Clyne • Nov. 4, 2024 -
Spencer Platt via Getty Images
Chipotle remains focused on core strategy, efficiency improvements, interim CEO says
Under Scott Boatwright, Chipotle aims to follow a steady course and carry out key initiatives like adding expediters and back-of-house equipment to boost throughput.
By Julie Littman • Oct. 30, 2024 -
Explore the Trendline➔
Violeta Stoimenova via Getty Images
TrendlineRestaurant 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 -
Mario Tama via Getty Images
McDonald’s US comp sales turn positive in Q3
The fast food giant gained traffic with the help of its $5 Meal Deal and expects to release a holistic value platform in early 2025.
By Julie Littman • Oct. 29, 2024 -
Roman Tiraspolsky via Getty Images
TGI Fridays has closed 60 stores since September
The casual dining chain, which may be considering bankruptcy after a failed merger, has closed roughly 100 stores since January.
By Aneurin Canham-Clyne • Oct. 28, 2024 -
M.O. Stevens. (2009). Retrieved from Wikimedia Commons.
Shari’s closes remaining Oregon restaurants
The casual chain, which had 42 locations in the state at the beginning of this year and has faced financial difficulties, has an estimated 17 locations left in the Northwest.
By Julie Littman • Oct. 22, 2024 -
Courtesy of Dickey's Barbecue Pit
Dickey’s franchisees sue company over inflated financial projections
Franchisees from Idaho and Ohio say that buildout costs were higher and sales lower than what the barbecue chain initially stated.
By Aneurin Canham-Clyne • Oct. 18, 2024 -
Courtesy of Chipotle
Chipotle makes minority investment in Mediterranean fast casual concept
As part of its Cultivate Next venture fund, Chipotle invested in six-unit Brassica as well as artificial intelligence supply chain platform Lumachain.
By Julie Littman • Oct. 15, 2024 -
Courtesy of 7-Eleven
7-Eleven shuttering 444 North American stores amid strategic pivot
The retailer also aims to generate $520 million through sale-leasebacks of an undisclosed number of stores as its parent company slashes its profit forecast and spins off non-core segments.
By Brett Dworski • Oct. 10, 2024 -
Andrew Burton via Getty Images
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 -
Aneurin Canham-Clyne/Restaurant Dive
8 restaurant industry trade shows to attend in 2025
This year is brimming with restaurant conferences and trade shows covering key issues for the sector, from franchising strategy to economic forecasts.
By Restaurant Dive Staff • Updated Jan. 31, 2025 -
Courtesy of Presto Automation
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 -
Permission granted by BurgerFi
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 -
Permission granted by MOD Pizza
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 -
Permission granted by BurgerFi
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 -
Bruce Bennett via Getty Images
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 -
Permission granted by Modern Market Eatery
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 -
Brandon Bell via Getty Images
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 -
Courtesy of Topgolf
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 -
David Ryder via Getty Images
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 -
Courtesy of Roti
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 -
Thai Phi Le/Restaurant Dive
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 -
Permission granted by Home Run Dugout/Courtesy of Alex Montoya
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 -
Permission granted by BurgerFi
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 -
Bruce Bennett via Getty Images
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
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