Observer Lite: 4/17/2025

BK bankruptcy
Burger King franchisee Consolidated Burger Holdings, operator of 57 restaurants across Florida and Georgia, filed for bankruptcy protection under Chapter 11.

As of the petition date, the restaurants are informally organized in three regions: Florida panhandle (20 restaurants); South Florida (19); and Tallahassee/South Georgia (18). The company employs 773 persons and settled litigation with Burger King Corporation (details were confidential) in 2024. More recently, Burger King Corporate alleged defaults under all franchise agreements in February 2025 and agreed to forbearance until the petition date this week.

For the fiscal year ending 2023, the Debtors generated sales of $76.6 million and suffered a net operating loss of $6.3 million. For the fiscal year ending 2024, the Debtors generated sales of $67.0 million and suffered a net operating loss of $12.5 million. Total debt exceeds $36 million.

Subscribe to read the rest.