Bob Wright

Money Moves

Leading Wendy's turnaround and buying back restaurants from its bankrupt franchisee

Meritage Hospitality Group filed for Chapter 11 on September 17 with about $651 million in liabilities. Wendy's had terminated the franchise agreements a day earlier and says Meritage owes roughly $147 million; Meritage disputes the termination and sued to keep the agreements in force. The two sides are still fighting in bankruptcy court, and Meritage has kept closing restaurants.

Updated 5 days ago