November 16, 2023
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This week on Nation's Restaurant News the top story was Burger King franchisee Premier Kings files for Chapter 11 bankruptcy. Premier Kings Inc., a 172-unit franchisee of Burger King Corp. in five Southeast states, has filed for Chapter 11 bankruptcy protection. Premier Kings of Montgomery, Ala., and its affiliates filed the bankruptcy petition Oct. 26 in U.S. Bankruptcy Court for the Northern District of Alabama. The owner and sole manager of the company, Manraj “Patrick” Sidhu, died unexpectedly in May 2022.
In other news, CAVA bucked some industry trends, in a big way, with its third-quarter earnings. The Washington, D.C.-based Mediterranean restaurant chain saw a 7.8% traffic increase. This is especially profound as the industry is widely seeing 3.5% to 4% traffic decreases. So far, we’ve seen a few restaurants come out of the gate with positive traffic numbers, but CAVA blows them all away. For the chain’s second quarter as a public company, it’s certainly making a name for itself.
See what else was trending on NRN.com this week.
