Popeyes Franchise Operator Files Bankruptcy
Savannah News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Popeyes Franchise Operator, Sailormen Incorporated, Files for Bankruptcy: 136 Stores Impacted, 20 Already Closed
Popeyes franchise operator, Sailormen Incorporated, has filed for Chapter 11 bankruptcy protection, citing rising costs, fewer customers, and $130 million in debt. The company, which operates 136 stores in Florida and Georgia, has already closed 20 locations and plans to ditch leases for three more in Georgia. The companys financial struggles began in 2022, with attempts to sell off stores and unpaid bills leading to lawsuits and a banks attempt to take control. Despite employing over 3,300 people, there is no word yet on job losses. The parent company of Popeyes insists this does not reflect the chains overall health, as most of Sailormens stores are profitable. The fast-food chicken industry faces pressure as these proceedings play out, with competitors like Wingstop gaining ground, especially with younger crowds.
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