Dozens of Burger King restaurants across Florida and Georgia are at risk of shuttering as a major franchisee has filed for bankruptcy .
Consolidated Burger Holdings, which operates a total of 57 Burger King locations , filed for Chapter 11 bankruptcy on April 14 in the US Bankruptcy Court for the Northern District of Florida, according to court documents. The franchisee’s restaurants include Burger King locations in Valdosta, Georgia as well as Tallahassee, West Palm Beach and Naples in Florida.
Four of its restaurants are located inside Walmart stores. “Over the past several years, and particularly as a result of the COVID-19 pandemic, the Debtors’ business suffered significantly from loss of foot traffic, resulting in declining revenue without proportionate decreases in rental obligations, debt service, and other liabilities,” Consolidated Burger says in the filing. It comes as lucky residents in could win cash prize of $5,000 thanks to local businessman’s birthday wish .
Detailing its financial struggles, the franchisee noted in court documents that sales have declined and losses have increased over the last two fiscal years. In the 2024 fiscal year, Consolidated Burger reported $67 million in sales and an operating loss of $12.5 million…