Bankrupt Burger King Franchisee Pulls in $54 Million in Bids

Bankrupt Burger King franchisee Premier Kings Inc. received bids totaling more than $54 million for nearly 170 restaurants across much of the South.

The company selected four top bids for nearly all of its locations at an auction Monday, according to court papers filed Tuesday. The bids are a significant milestone for the company after it filed Chapter 11 in October with the goal of selling its assets.

Mosaic Gold Crown Group LLC bid $7.25 million for 35 locations in the Atlanta area, according to a Tuesday filing in the US Bankruptcy Court for the Northern District of Alabama. RRG ...