Wilbraham, Mass. — FIC Restaurants Inc., which operates the Friendly’s brand, has filed for Chapter 11 bankruptcy and entered in an agreement to sell all of its assets to Amici Partners Group LLC. Nearly all of Friendly’s 130 corporate-owned and franchised restaurant locations, known for burgers, sandwiches and ice cream, are expected to remain open subject to COVID-19 limitations. Friendly’s stated that it has sufficient cash on hand to continue operations, meet its obligations to employees, franchisees and vendors. Upon the sale closing, Amici expects to retain most employees at …
restaurants
Atlanta and Canton, Mass. — Inspire Brands has agreed to acquire fast-food breakfast chain Dunkin’ Brands in a transaction valued at $11.3 billion. The deal is expected to close by the end of the year. Atlanta-based Inspire Brands is the parent company of restaurant chains such as Arby’s, Jimmy John’s, Sonic Drive-In and Buffalo Wild Wings. In addition to its namesake coffee and breakfast chain, Canton, Mass.-based Dunkin’ Brands also owns ice cream parlor chain Baskin-Robbins, which respectively have about 12,500 and 8,000 locations worldwide. Dunkin’ has about 9,600 locations …
Dallas — MUTTS Canine Cantina®, a fast-growing pet eatertainment brand that provides a unique urban oasis for dogs and their owners, has signed a multi-unit franchise deal to bring locations to El Paso, Texas, and Tucson, Ariz. New franchisee April Mendoza of Pups and Pals, LLC, plans to open multiple MUTTS® locations, with a focus on the Southwest I-10 corridor. “It is an exciting time to join the MUTTS Canine Cantina family. While 2020 has been a year filled with unexpected challenges, one thing is certain — people have been …
Chicago — Dickey’s Barbecue Pit unveiled its first virtual kitchen on Oct. 30 in Chicago. This model, which services guests solely through online ordering and third-party delivery, is the first of its kind to open for the Texas-based, family-owned franchise. Barbecue fans in the surrounding 10-mile area can get their Dickey’s fix by ordering delivery directly to their doorstep through www.dickeys.com or the Dickey’s app. “As an industry leader we are continually adapting our restaurant models to fit the needs of both the economic climate and the fluctuations of guest …
Nantucket, Mass. — Oath Pizza, known for serving better-for-you craft pizza at 60 locations throughout the United States, opened its first ghost kitchen on Oct. 16. The pickup and delivery-only location is located at 1308 W. Girard Ave. in Philadelphia. “We are thrilled to open our first-ever ghost kitchen to offer safe and delicious contactless pick-up and delivery options to residents of the Greater Philadelphia area,” says Drew Kellogg, CEO of Oath Pizza. “This opening is one of many unique ways we continue to pivot during these changing times. We’re …
Canton, Mass. — Shares of Dunkin’ Brands Group Inc. rose by more than 15% on Oct. 26 as the Massachusetts-based coffee and breakfast chain moved forward with talks to be acquired by Atlanta-based Inspire Brands, the parent company of chains like Arby’s and Jimmy John’s. The New York Post reports that the deal, which would take Dunkin’ private, is valued at $8.8 billion. Dunkin’s stock price closed at $89.80 per share on Oct. 23 and peaked at $104.87 per share in trading on Oct. 26 before closing just below that …
Newport Beach, Calif. — Year-over-year revenue for Chipotle Mexican Grill increased 14.1% to $1.6 billion for third-quarter 2020. Digital sales soared 202.5% to $776.4 million, accounting for 48.8% of sales for the period. The company’s net income was $80.2 million. Despite the sales increase, the net income is a decrease from $98.6 million in third-quarter 2019 as expenses increased during the COVID-19 pandemic. In addition to increased revenue, the Newport Beach-based fast-casual chain opened 44 new restaurants and closed three locations during the third quarter, bringing the total restaurant count …
Bloomington, Ind. — Curry Up Now, an award-winning Indian fast-casual concept, has broken ground on its first Indiana location, which is slated to open in early spring 2021 in Bloomington near Indiana University. This expansion is part of a multi-unit franchise deal for the entire state of Indiana, with plans to grow Curry Up Now in the greater Indianapolis area and expand across the state to additional college towns such as West Lafayette and South Bend, and into suburbs like Fishers and Carmel. “We were attracted to Bloomington from the …
San Diego — QDOBA Mexican Eats®, the largest franchise opportunity in the fast-casual Mexican segment, has introduced new restaurant formats that set the stage for continued growth. QDOBA’s new concepts feature buildouts including mobile-order drive-thrus, walk-up windows, mobile-order pickup lockers, dedicated curbside pickup areas, ghost kitchens and concepts with updated outdoor seating. The new formats come on the heels of a major multi-unit franchise development strategy announced last month that is set to grow the brand to 2,000 units. “Today’s customer wants a frictionless, safe experience and we’re evolving to …
Nashville, Tenn. — Nashville, Tenn.-based Back Yard Burgers opened its new prototype in the greater Charlotte, N.C., area in September and plans to expand with the updated building design. The new interior design brings the outdoor backyard feel indoors with pergolas and an open kitchen that gives guests a better view of their sandwiches being cooked over the open flame with all of the sights, sounds and aromas. More modern exteriors featuring a mix of brick, wood and metal showcase new signage and the new Back Yard Burgers flame logo. …