More than 100 Popeyes in these states at risk after franchisee files for bankruptcy
Popular fast-food chain at risk in these US states as debts reach almost $130 million
- Popeyes franchisee Sailormen Inc., which operates 136 locations across Georgia and Florida, has filed for Chapter 11 bankruptcy.
- The company's debt totals nearly $130 million, as revealed in court documents.
- Sailormen Inc. attributed the bankruptcy filing to factors including inflation, the COVID-19 pandemic, and an increasingly limited qualified labour force.
- Chapter 11 bankruptcy allows the company to reorganise its finances and continue operations while working to repay its debts.
- The franchisee, which employs approximately 3,272 hourly workers, has not indicated any potential store closures in its court filings.