Large Wendy's franchisee files for bankruptcy, cites record beef prices

A major Wendy’s franchisee filed for Chapter 11, citing losses and record beef prices.

Meritage Hospitality Group, which owns 314 Wendy’s locations in 15 states, filed on Sept. 17 in the U.S. Bankruptcy Court for the Western District of Michigan. It said it owes Wendy’s International nearly $25 million and plans to restructure, weighing options that could include closing or selling underperforming restaurants, according to court documents.