Finances and Deals: Page 3
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Restaurant365 raises $135M
The restaurant tech firm said the money from L Catterton, KKR and previous investors would support further product development.
By Aneurin Canham-Clyne • May 19, 2023 -
Texas Roadhouse appoints Southwest Airlines vet as CFO
Chris Monroe will lead Texas Roadhouse’s financial operations after a 30-year career at Southwest Airlines.
By Julie Littman • May 18, 2023 -
Incentivio lands $10M in funding to grow restaurant AI capabilities
The guest engagement platform will use the funding to accelerate growth and invest in product, engineering and innovation for small- and mid-size eateries.
By Julie Littman • May 18, 2023 -
Domino’s delivery drags on strong pricing and carryout
With carryout growing, Domino’s plans to revamp its loyalty program to strengthen takeout options while creating value across channels.
By Julie Littman • April 28, 2023 -
Chipotle’s same-store sales rise 10.9% as traffic turns positive
In-restaurant sales jumped nearly 23% year over year following efforts to boost operational efficiency, rewards and menu innovation.
By Julie Littman • April 26, 2023 -
Subway boasts 11.7% same-store sales growth in North America
The sandwich chain, which has increased its focus on digital promotions in the U.S., saw a 21% uptick in Q1 digital sales for the region.
By Julie Littman • April 24, 2023 -
Meridian closes 23 Burger Kings in bankruptcy
Burger King’s U.S. franchisees have closed at least 49 units this year as the brand’s turnaround efforts are restrained by macro-economic problems.
By Aneurin Canham-Clyne • April 12, 2023 -
Fat Brands stacks board with Wiederhorns
The restaurant company has fired all but one of its directors and replaced them with a slate of new candidates, including three of Andrew Wiederhorn's kids.
By Aneurin Canham-Clyne • April 7, 2023 -
Flyby secures $4M in funding to boost drone delivery
The company is partnering with several restaurant brands in a multi-week pilot of its delivery technology in Mesa, Arizona.
By Aneurin Canham-Clyne • April 5, 2023 -
Bankrupt Burger King franchisee sold for $33M to 4 buyers
Toms King, a 90-unit Burger King franchisee that filed for Chapter 11 protection in January, managed to sell the bulk of its stores at a Delaware auction.
By Aneurin Canham-Clyne • April 5, 2023 -
Port of Subs acquired by private equity firm
Area 15 Ventures looks to grow franchise sales in its portfolio, which includes Daddy’s Chicken Shack alongside Port of Subs, by 140% in 18 months.
By Aneurin Canham-Clyne • April 4, 2023 -
Burger King franchisee bankruptcies may signal more QSR trouble
The bankruptcy of two major Burger King operators laid bare the problems facing franchisees. But at Burger King, the worst may be over.
By Aneurin Canham-Clyne • March 31, 2023 -
Luckin Coffee’s ‘revenue reckoning’ takeaways
The Beijing-based chain was initially viewed as a kind of David poised to take on the Goliath of the coffee world — Starbucks — in China.
By Maura Webber Sadovi • March 23, 2023 -
How 5 QSR giants are tackling menu pricing, strategy
McDonald’s, Starbucks and Wendy’s took price between 6% and 10% in 2022, and experts expect prices to rise further as chains face economic headwinds.
By Restaurant Dive Team • March 23, 2023 -
McDonald’s franchisee declares bankruptcy following rape lawsuit
Rice Enterprises filed for Chapter 11 protections over a year after it was sued over an alleged rape of a 14-year-old employee by a manager.
By Julie Littman • March 20, 2023 -
Popeyes franchisee files for bankruptcy following founder’s death
Premier Cajun Kings marks the third franchisee within the Restaurant Brands International’s system to file for Chapter 11 bankruptcy protection this year.
By Julie Littman • March 16, 2023 -
Second major Burger King franchisee declares bankruptcy
Meridian Restaurants Unlimited, which operates over 115 Burger Kings in nine states, cited rising costs and decreased foot traffic as the main drivers of profitability and cash flow trouble.
By Julie Littman • March 9, 2023 -
Just Salad taps Goldman Sachs vet as CFO
Jared Garber joins the company during the fastest growth period in its 17-year history, and will lead the chain’s financial operations as it scales up.
By Emma Liem Beckett • March 6, 2023 -
Corner Bakery files for Chapter 11 bankruptcy
The cafe chain’s Wednesday filing brings an end to a two-year period with few major restaurant bankruptcy announcements.
By Emma Liem Beckett • Feb. 24, 2023 -
Kiwibot secures $10M in financing to support growth
Through a partnership with Kineo, the delivery robotics company will use the alternative financing to support manufacturing and scale of its robotics fleet.
By Julie Littman • Feb. 22, 2023 -
Why 2023 isn’t the best time for restaurants to go public
Cava filed a confidential IPO earlier this month and other restaurants are rumored to go public this year, but analysts are worried about chains’ compressed margins and profitability struggles.
By Julie Littman • Feb. 21, 2023 -
Subway confirms it is looking to sell
The sandwich chain has enlisted JP Morgan to advise its sale exploration process, but did not offer estimates of when the sale might occur.
By Aneurin Canham-Clyne • Feb. 14, 2023 -
Uber One subscription is boosting delivery spend, frequency and user loyalty for Uber Eats
Delivery made up 34% of Uber’s revenue, and ongoing investment in non-restaurant categories, like grocery, c-store and alcohol, may help growth.
By Emma Liem Beckett • Feb. 9, 2023 -
Uber Eats to back community development loans for Black-owned restaurants
The delivery aggregator will partner with the Local Initiatives Support Corporation to provide financing to Black restaurant owners in disadvantaged neighborhoods.
By Aneurin Canham-Clyne • Feb. 8, 2023 -
Cava files confidential IPO
The fast casual chain appears to be the first major restaurant chain to seek an IPO this year.
By Julie Littman • Feb. 6, 2023