"Fans of Popeyes Louisiana Kitchen will be sad to learn that more than a dozen locations have shuttered this month across two Southeastern states. The closures come after Sailormen Inc, a major Popeyes franchisee, filed for Chapter 11 bankruptcy protection in Florida on January 15. Once the bankruptcy proceedings began, Sailormen immediately moved to shutter 17 Popeyes restaurants in Georgia and Florida, according to court records."
"The company is now seeking to reject the leases at those locations where the beloved fried chicken fast-food restaurants formerly operated. The closures took place as recently as this week, according to a January 26 court docket. It's unclear if more restaurants will close. Fast Company reached out to Sailormen and Popeyes for comment. Why did Sailormen file for bankruptcy? As Fast Company reported earlier this month, Sailormen cited a number of factors that led up to its bankruptcy petition, including high inflation and borrowing rates."
Sailormen Inc., a major Popeyes franchisee, filed for Chapter 11 bankruptcy protection in Florida on January 15 and immediately closed 17 Popeyes restaurants in Georgia and Florida. The company is seeking court approval to reject the leases at the former locations. The closures occurred as recently as the week of January 26, and it remains unclear whether additional restaurants will close. Sailormen cited high inflation, rising borrowing costs, and persistently weak foot traffic since the COVID-19 pandemic as factors leading to the bankruptcy. Restaurant Brands International faces intensified competition in the fast-food chicken market.
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