Finances and Deals: Page 8

  • Burger King gets a fresh look
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    Courtesy of Burger King
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    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 • April 12, 2023
  • An image of a Johnny Rockets counter.
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    Permission granted by Fat Brands
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    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 • April 7, 2023
  • A Flyby drone carrying a delivery.
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    Courtesy of Flyby Robotics
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    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 • April 5, 2023
  • A picture of Burger King signs.
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    Justin Sullivan via Getty Images
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    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 • April 5, 2023
  • A picture of the leadership of Port of Subs.
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    Courtesy of Port of Subs
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    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 • April 4, 2023
  • Burger King gets a fresh look
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    Courtesy of Burger King
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    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 • March 31, 2023
  • Barista at Luckin Coffee shop.
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    Getty Images via Getty Images
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    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
  • A young woman customer placing her order at a fast food convenience restaurant.
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    Getty Images
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    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
  • A remodeled McDonald's.
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    garett_mosher via Getty Images
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    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 • March 20, 2023
  • Popeyes unveils new brand identity, pilots store redesign
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    Courtesy of Popeyes
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    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 • March 16, 2023
  • A round sign with the words Burger King on it.
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    Justin Sullivan via Getty Images
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    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 • March 9, 2023
  • Just Salad CFO Jared Garber
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    Permission granted by Just Salad
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    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 • March 6, 2023
  • Corner Bakery storefront
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    Thai Phi Le/Restaurant Dive
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    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 • Feb. 24, 2023
  • An image of a robot at Loyola Marymount University
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    Permission granted by Kiwibot
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    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 • Feb. 22, 2023
  • An image of a customer entering a Cava restaurant.
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    Mario Tama via Getty Images
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    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 • Feb. 21, 2023
  • An image of a Subway sandwich in a plastic package.
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    Courtesy of Subway
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    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 • Feb. 14, 2023
  • An Uber Eats order is handed to an end customer.
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    Courtesy of Uber
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    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 • Feb. 9, 2023
  • Uber Eats app functionality in stadiums
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    Permission granted by Uber Eats
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    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 • Feb. 8, 2023
  • An image of a Cava with a mobile order pickup
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    Julie Littman/Restaurant Dive
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    Cava files confidential IPO

    The fast casual chain appears to be the first major restaurant chain to seek an IPO this year.

    By • Feb. 6, 2023
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    yaoinlove via Getty Images
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    McDonald’s will lean into chicken, coffee to grow diner frequency

    The core menu categories pose significant growth opportunity, McDonald’s executives said Tuesday, as the chain aims to better compete with chicken-only chains and leverage coffee’s high margins. 

    By • Jan. 31, 2023
  • A woman sits at a coffee table looking at a tablet.
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    Getty Images
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    Q&A

    Earnings instability has led to fewer restaurant lenders

    Despite institutions pulling back from offering loans to restaurants, CapitalSpring’s Erik Herrmann says there are other options.

    By • Jan. 30, 2023
  • Burger King gets a fresh look
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    Courtesy of Burger King
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    90-unit Burger King franchisee files for bankruptcy

    Toms King Holdings felt the pinch on cash flow due to increased shipping and food costs, inflation and decreased availability of labor. 

    By • Jan. 5, 2023
  • A promotional image for Freshii's coffee beverages.
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    Courtesy of Freshii
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    Freshii sells to Foodtastic for $54.5M

    Cash-strapped Freshii, which operates 37 U.S. locations out of 330-plus North American stores, marks Foodtastic’s second restaurant buy this month. 

    By • Dec. 19, 2022
  • The logo for Nick the Greek, a fast casual chain now controlled by Anil Yadav.
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    Courtesy of Nick the Greek
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    Jack in the Box’s largest franchisee buys Nick the Greek

    Anil Yadav’s YTG Enterprises has acquired a controlling stake in the 48-unit chain just over a year after it bought Taco Cabana for $85 million. 

    By • Dec. 13, 2022
  • An image of two men wearing blue shirts
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    Courtesy of MarginEdge
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    MarginEdge secures $45M in capital

    The capital infusion, which the restaurant tech firm will use to grow its team and improve its core products, brings its total funding to over $70 million. 

    By • Dec. 8, 2022