Fast-food burger franchisees are rejecting underperforming leases in bankruptcy cases as part of reorganizations, which they hope will shed unprofitable restaurants.
Among the burger chains that are restructuring debt and closing restaurants are Wendy's and Checkers and Rally's.
Checkers and Rally's fast-food burger chain franchisee Global Midsouth Holding Corp. filed for Chapter 11 bankruptcy to reorganize its business, facing a foreclosure notice on its Jackson, Tenn., restaurant property.
The Memphis-based debtor filed its petition in the U.S. Bankruptcy Court for the Western District of Tennessee on Oct. 28, 2026, a day before a foreclosure auction was scheduled at the Madison County Courthouse in Jackson, Tenn.
The bankruptcy filing imposed an automatic stay on all legal actions against the debtor while the case proceeds.
#burger
Among the burger chains that are restructuring debt and closing restaurants are Wendy's and Checkers and Rally's.
Checkers and Rally's fast-food burger chain franchisee Global Midsouth Holding Corp. filed for Chapter 11 bankruptcy to reorganize its business, facing a foreclosure notice on its Jackson, Tenn., restaurant property.
The Memphis-based debtor filed its petition in the U.S. Bankruptcy Court for the Western District of Tennessee on Oct. 28, 2026, a day before a foreclosure auction was scheduled at the Madison County Courthouse in Jackson, Tenn.
The bankruptcy filing imposed an automatic stay on all legal actions against the debtor while the case proceeds.
#burger
1 day ago
