A bankrupt franchisee is the latest Burger King operator to shut down locations.
drops in foot traffic and revenue over the last several years. Plus, the operator said itand other commodities soared.
To top it all off, some of the restaurants that Meridian acquired had been underperforming from the start and continued to operate at a loss. This resulted in an inability to meet financial obligations in a timely manner, the franchisee said. Meridian and its financial advisors are now in talks about rent concessions and operational improvements with landlords,reported. But only time will tell if the franchisee's financial problems will end with the 27 restaurant closures.Toms King Holdings' Chapter 11
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