One of Wendy’s largest franchisees just filed Chapter 11.
Meritage Hospitality Group operates 314 Wendy’s restaurants across 15 states and employs roughly 9,000 people.
The filing came after Wendy’s moved to terminate the franchise relationship over unpaid royalties and fees.
Wendy’s is also one of the company’s largest unsecured creditors.
Meritage plans to keep the restaurants operating while it restructures.
-The Bankruptcy Brief