A bankrupt Wendy’s franchise operator wants to sell 42 restaurants across Tennessee, Arkansas, Mississippi and Missouri for $18.6 million. The proposed deal offers a possible way to keep those locations running while their current owner restructures its debts.
It is a new turn in the Wendy’s franchisee bankruptcy that has already brought closure plans to Oklahoma. The latest sale request was filed October 21, but the restaurants have not changed hands.
A buyer emerges across four states
Grand Rapids, Michigan-based Meritage Hospitality Group is asking a bankruptcy judge to authorize the sale to a buyer group associated with Hiren Patel, whose Divine Investors operates Dunkin’ and KFC franchises. The proposed buying entities include Divine Infinity Operations, according to restaurant industry reporting…