A large Burger King operator declared bankruptcy, blaming the pandemic and inflation. / Photograph: Shutterstock.
TOMS King Holdings, a 90-unit Burger King operator with locations in four states, declared bankruptcy this week, blaming the pandemic and subsequent inflation challenges for draining its cash flow and making it unable to pay its debt.
The company is one of the burger chain’s largest franchisees and operates locations in Illinois, Ohio, Pennsylvania and Virginia. It filed for Chapter 11 bankruptcy protection with $35.5 million in secured debt and another $14 million in unsecured obligations, according to court documents. TOMS plans to sell its restaurants through the bankruptcy process.
TOMS in court filings said that its…
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