The fourth largest franchisee of Popeyes Louisiana Kitchen in the US with locations in Florida and Georgia has filed for bankruptcy court protection.
Miami-based Sailormen Inc. filed for Chapter 11 with estimated liabilities between $100 million and $500 million, according to a petition filed Thursday in the US Bankruptcy Court for the Southern District of Florida.
The franchisee, which was founded in 1984 and is a subsidiary of Interfoods of America Inc., owns and operates 136 Popeyes and employs more than 2,900 people, according court records.
The filing comes after BMO Bank NA last week moved to appoint a receiver ...
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