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Tag: franchisee

Wendy’s franchisee allegedly spent $1 million of PPP funding to finance home

Chip Somodevilla | Getty Images A former employee of Starboard Group, a large Wendy’s operator, alleges that the franchisee’s chief executive diverted $1 million in Paycheck Protection Program loans to finance his home in Montana. Sandi Adler, who was Starboard’s vice president of legal affairs and human resources, filed the complaint on June 30 under …

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Pizza Hut’s largest U.S. franchisee files for Chapter 11 bankruptcy

A customer enters a Pizza Hut restaurant in Princeton, Illinois. Daniel Acker | Bloomberg | Getty Images NPC International, the largest U.S. franchisee of Yum Brands’ Pizza Hut, filed for Chapter 11 bankruptcy on Wednesday. The company operates more than 1,200 Pizza Huts and nearly 400 Wendy’s restaurants. In contrast to most of the restaurant industry, Pizza …

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Can’t estimate coronavirus impact to its business, mulling franchisee aid

A man steps out of a McDonalds restaurant with sign announcing take-out service only in Hollywood, California on March 16, 2020 as the Coronavirus pandemic brings much of California to a standstill. Frederic J. Brown | AFP | Getty Images Citing the ongoing uncertainty brought on by the coronavirus pandemic, McDonald’s said Tuesday it may offer some …

Can’t estimate coronavirus impact to its business, mulling franchisee aidRead More

Pizza Hut’s largest US franchisee reportedly weighs options, including bankruptcy

A customer enters a Pizza Hut restaurant in Princeton, Illinois. Daniel Acker | Bloomberg | Getty Images Pizza Hut’s largest U.S. franchisee is weighing restructuring options, including bankrutpcy, Bloomberg reported Wednesday. NPC International, which has about $1 billion in debt, operates nearly 400 Wendy’s restaurants and more than 1,200 Pizza Huts. People familiar with the …

Pizza Hut’s largest US franchisee reportedly weighs options, including bankruptcyRead More