Popular chicken chain franchisee with 130 restaurants files for bankruptcy
PennLive.com • • business
Key Points:
- Sailormen, Inc., a major Popeyes franchisee based in Miami, has filed for Chapter 11 bankruptcy, citing nearly $130 million in debt.
- The company attributed its financial troubles to the lasting impacts of the COVID-19 pandemic, inflation, and a shrinking qualified labor force.
- Sailormen Inc. attempted to sell 16 Popeyes locations in 2023, but the deal ultimately fell through.
- The franchisee currently operates 136 Popeyes stores across Georgia and Florida, with no clear information on which or how many locations might close.
- Popeyes restaurants outside Florida and Georgia are not affected by this bankruptcy, as Sailormen has already sold off locations in other states.
