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QDOBA Mexican Eats Opens 400th Franchise Location

by Katie Lee

San Diego — QDOBA Mexican Eats® (QDOBA), the largest franchise opportunity in the fast-casual Mexican segment, has opened its 400th franchise location (pictured). The landmark opening underscores the brand’s dynamic development strategy to expand to 2,000 units. QDOBA’s growth will be fueled by blending a mix of current franchisees expanding their portfolios, new franchisee acquisition and corporate development. QDOBA’s 400th franchise restaurant had its grand opening on Jan. 19 in Brighton, Mich., a suburb of Detroit. The modernized QDOBA features several of the brand’s recent innovations, including a new drive-thru …

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Zippin Hires Former VP of SSP and Aramark to Lead Business Development

by Katie Lee

San Francisco — Zippin, an industry leader in checkout-free technologies for brick-and-mortar retail, has hired veteran business development executive, Gary Jacobus, as senior vice president, business development. Most recently, Jacobus was with SSP America, the leading operator of food & beverage concessions in travel locations, where he grew the business by over $470 million in annual revenue during his 3-year tenure. His proven track record within the sports, entertainment and transportation venue verticals will help to further expand Zippin’s footprint in these core markets. Previously he held a similar role …

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Muscle Maker Grill Expands Its Brand Offerings

by Katie Lee

League City, Texas — Muscle Maker, Inc., the parent company of Muscle Maker Grill, Healthy Joe’s and MMG Burger Bar, has added Burger Joe’s to its non-traditional portfolio. The company plans to launch four additional brands that showcase prominent menu categories throughout 2021. Adding new offerings through the company’s existing brick-and-mortar and ghost kitchen locations is a low-cost way to reach a broader audience. Burger Joe’s will offer a combination of “healthier for you” and “cheat day” burgers all served with sweet potato fries or regular fries. This brand is …

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Walgreens Names Former Starbucks COO as Chief Executive Officer

by Katie Lee

Deerfield, Ill. — Walgreens Boots Alliance, Inc. (WBA) has appointed Rosalind (Roz) Brewer as the company’s chief executive officer, effective March 15, 2021. Brewer will also join the WBA board of directors upon assuming the role. She succeeds Stefano Pessina who, as previously announced, will transition to the role of executive chairman of the board of WBA. Pessina has served as the CEO of the combined company for 6 years following the merger between Walgreens and Alliance Boots in December 2014. During his tenure, he transformed and modernized the company …

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franchise developmentNewsrestaurants

Freddy’s Opened 30 Restaurants in 2020; Plans to Open More Than 50 This Year

by Katie Lee

Wichita, Kan. — Freddy’s Frozen Custard & Steakburgers experienced significant development success in 2020, opening 30 new restaurants in key markets throughout the U.S., including its milestone 400th location. Despite a challenging industry landscape, Freddy’s maintained strong systemwide sales throughout the pandemic and continued to grow, reporting AUV growth of 6.5%. The brand also signed with six new development groups that committed to over 60 development options; it also signed 11 new development agreements with existing Freddy’s franchisees who committed to additional territory and over 70 new restaurant options. “Our …

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L’Occitane, Inc. Files for Chapter 11, Will Optimize U.S. Store Footprint

by Katie Lee

New York City — L’Occitane, Inc., a leading U.S. retailer of beauty and well-being products rich in natural and organic ingredients that preserves and celebrates the traditions of Provence, France, has filed for voluntary Chapter 11 bankruptcy this week and will optimize its store footprint to best position its business for the future. To implement this store footprint optimization plan, including the contemplated exit of unprofitable locations, the company commenced a voluntary case under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District …

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Cinnaholic Set for Rapid Growth in 2021

by Katie Lee

Atlanta — Cinnaholic, a gourmet vegan bakery, is set to open 20 new locations across the country this year. The brand also experienced a successful 2020: it signed agreements for new franchise locations across 20 new markets including Ann Arbor, Mich.; Portland, Ore.; Philadelphia; New Jersey; and Phoenix. Since June 2020, the brand has also opened locations in new markets including Raleigh, N.C.; Chicago; San Antonio; Baltimore; Birmingham; Tulsa, Okla.; Little Rock, Ark.; and Tyler, Texas. As Cinnaholic sets its sights on continued growth in 2021, it seeks out qualified …

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AMC Theatres Raises $917 Million of Investment Capital, Says Bankruptcy is ‘Completely Off Table’

by Katie Lee

Leawood, Kan. — In an effort to remain financially afloat amid the COVID-19 pandemic, AMC Entertainment Holdings Inc. has raised or signed commitment letters to receive $917 million of new equity and debt capital. The Leawood, Kan.-based movie theater company says the increased liquidity should enable it to survive well into 2021. Of the $917 million, AMC raised $506 million of equity from the issuance of new common shares. Additionally, the company executed commitment letters for $411 million of incremental debt capital from upsizing and refinancing its European revolving credit …

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Mountain Mike’s Pizza Continues to Grow in Oregon

by Katie Lee

Newport Beach, Calif. — Mountain Mike’s Pizza has opened its second Oregon location, in Roseburg. The new Roseburg location is owned by franchisee and area developer, Jim Smith, who owns the Mountain Mike’s in Medford, Ore., and plans to open two additional restaurants in the state in 2021. With dining rooms open at limited capacities throughout Oregon, Mountain Mike’s continues to adhere to the strictest health and safety guidelines set by the state and the CDC, such as employees wearing masks and gloves, and tamper-proof seals. Mountain Mike’s offers dine-in, …

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American Eagle Outfitters to Close 225 Stores, Bolster Aerie Brand to $2 Billion Revenue

by Katie Lee

Pittsburgh — The Pittsburgh-based company’s chief financial officer, Michael Mathias, announced plans to close 200 to 225 of the company’s 880 existing American Eagle locations over the next 2 to 3 years during a virtual investor meeting held Jan. 21. “Our primary focus for the next few years with American Eagle will be to build on our large cash-flow base by focusing on inventory efficiency, improving merchandise margins, managing expenses and closing stores to strengthen profit flow-through,” says Mathias.The company’s American Eagle banner anticipates roughly flat growth compared to 2019, …

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