So much for the TGI Fridays sale. Hostmore, the casual-dining chain’s U.K.-based operator, said it is calling off its purchase of the chain. A trustee overseeing Fridays’ $375 million in debt terminated the company as manager, handing control of most of Fridays’ assets to a consultant, including oversight of the franchise business.
Wendy’s has a new chairman for the first time in 17 years. The fast-food burger chain has named Arthur Winkleblack chairman. He will succeed Nelson Peltz, who has been at the helm of the company’s board since 2007.
Changes are happening in the fast-casual space. Thrive Restaurant Group has acquired the 29-unit fast-casual Modern Market Eatery brand from Butterfly Equity.
Walt Ehmer, chairman and CEO of Waffle House, has died at the age of 58 after a long illness. He served at the 24/7 chain for over 32 years.
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