Wendy's Bids To Buy Restaurants From Bankrupt Franchisee
Law360 (November 19, 2020, 5:14 PM EST) -- The Wendy's Co. said Thursday it has joined forces with a group of franchisees to bid for roughly 390 Wendy's restaurants being sold by bankrupt franchisee NPC Quality Burgers Inc.
Wendy's and the franchisee consortium submitted their bid Wednesday, according to U.S. Securities and Exchange Commission filings. If successful, the deal would see new and existing franchisees purchase most of NPC's markets, while Wendy's itself would acquire "at most one or two markets," the filing said.
"[Wendy's Co.] remains committed to maintaining its ownership level of approximately 5% of the total Wendy's system," the filing said.
NPC is selling its interests...
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