NORCROSS Ga. Waffle House Inc., parent company to the 1,600-unit Waffle House family-dining chain, is in talks to purchase 121 restaurants owned and operated by one of its largest franchisees in the Southeast, Northlake Foods, which is in the midst of bankruptcy proceedings.   AWaffle House spokesman would not offer a pending deal value but said court approval for the plan is expected by the end of January.     Northlake Foods of Brandon, Fla., which operated 90 of ...

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