Wendy’s Franchise Giant Meritage Files for Bankruptcy Amid Termination Dispute

Meritage Hospitality Group, which operates 314 Wendy’s restaurants in 15 states, filed for bankruptcy protection after Wendy’s terminated its franchise agreement. The company says it will continue operating and paying about 9,000 employees during the proceeding, while Wendy’s claims roughly $27.4 million in royalties and $119.5 million in continuous-operations fees; Meritage had already closed 60 Wendy’s locations last year as part of a restructuring.