This week on NRN.com, the top story was about the abrupt closure of approximately 25 KFC restaurants in Illinois, Indiana, and Wisconsin. All of the restaurants were owned by franchisee EYM chicken.
Meanwhile, many more CEOs were appointed to lead major restaurant chains. Damola Adamolekun will be Red Lobster’s chief executive officer if its sale to an affiliate of Fortress Capital goes through. And at Outback Steakhouse’s parent company, Bloomin’ Brands, Mike Spanos was named CEO, succeeding David Deno, who announced his impending retirement in May.
It’s not all doom and gloom for the industry. CAVA became an exception to an otherwise dismal second-quarter earnings season, showing that it has found consumers’ sweet spot for value. And Chick-fil-A launched its long-awaited new elevated drive-thru prototype.
Click through the gallery for these stories and more, including the Canadian franchise expanding in U.S. malls, the death of the 80/20 rule, and the latest bankruptcy filing.
