Meritage Hospitality Group said it filed for Chapter 11 bankruptcy protection on September 17 in the Western District of Michigan and expects to keep its restaurants operating during restructuring.
The company, which says it operates 314 Wendy’s restaurants, is seeking financing to support the business through the court process, according to its announcement.
Meritage intends to continue paying wages and benefits to approximately 9,000 employees without interruption, subject to court approval. It also plans to pay suppliers for goods and services provided on or after the filing date.
The company is working to obtain debtor-in-possession financing and expects that funding, together with cash from operations, to cover its needs during Chapter 11. It plans to explore strategic alternatives as it restructures its finances.
QSR Pro Staff
The QSR Pro editorial team covers the quick service restaurant industry with in-depth analysis, data-driven reporting, and operator-first perspective.
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