Morton’s Restaurant Group is considering a potential sale of the company. The Chicago-based business announced that, with the support of affiliates of Castle Harlan, Inc. and Laurel Crown Partners, LLC, its two largest current shareholders, the company’s board of directors has authorized the exploration of strategic alternatives to enhance shareholder value. The board of directors […]
Tavistock Group has acquired E-Brands Restaurants, a multi-concept restaurant company that operates Timpano Chophouse and Martini Bar, AquaKnox, and Taqueria Canonita. E-Brands Restaurants sold its brands and seven restaurant locations to the Orlando, Florida-based private investment company after filing for bankruptcy last summer. “We continue to look for undervalued assets across the U.S. that can […]
Visits to restaurants may be down compared to six years ago but there’s a glimmer of hope on the horizon. New research from the NPD Group shows that there were signs of improvement in the second half of 2010. Restaurant traffic was flat for the quarter ending December 2010, compared to a -3 percent decline […]
JB’s Family Restaurants has filed for Chapter 11 bankruptcy protection due to debts that are estimated to range as high as $50 million, but at least $10 million. The company has also closed 26 of its 50 restaurants, around half of which are company-owned and half of which are franchised. They are located in six […]
The 500 largest U.S. restaurant chains saw a 1.8 percent increase in sales last year. Research by Technomic showed that sales for these restaurants increased more than $4 billion over 2009, by around $234 billion. The growth was driven by fast-casual and limited service restaurants but was also seen in other segments. The top five […]
Ever wondered what exactly a daypart is or when to use the term “front of house”? A new website, www.fiwords.com, will tell you just this – at a price, of course. Fiwords.com, the “Financial Writer’s Stylebook,” offers subscribers – who pay just $12 a year – a simple way to decode terms from the foodservice, […]
Business in the quick-serve industry is finally trending up, and with lending becoming increasingly available to operators, franchisors may soon find themselves with more prospective franchisees clamoring to get on board with their brand. In order to accommodate franchise growth, two law experts say there are several things franchisors should do to make sure their […]
The times are changing for many of the industries that fortified America’s capitalistic society. With banks trying to figure out how to thrive under new financial regulations, quick serves are facing a challenge to their classic business model: the franchise. Although no one expects the franchise model to disappear any time soon, it’s true for […]
FRANdata, an independent research company whose professional team has more than 30 years of collective experience in the banking industry, announced that a new survey found franchisees have a greater chance at getting bank loans if they include the company’s Bank Credit Report in their application package. A Bank Credit Report provides an independent analysis […]
First Financial Bancorp announced that the former Irwin Franchise Capital Corporation (IFCC) changed its name to First Franchise Capital Corporation. The new name is effective immediately. First Financial Bancorp acquired the company in September of 2009 when its principal banking subsidiary, First Financial Bank, N.A., acquired certain assets and liabilities of Irwin Union Bank and […]
Technomic released a report in July in conjunction with Restaurant Finance Monitor that suggests, among other things, that some restaurant franchisors shifted franchising strategies in 2008 to accommodate the recession and credit crunch. According to the report, which details information on the top 400 franchise companies by sales, showed that in 2008 some franchisors—including Pizza […]
A recent survey conducted through the National Restaurant Association's Smartbrief online newsletter reported that a majority of restaurateurs think the economy had the greatest effect on their companies in 2008. Economic woes trumped rising food costs (which garnered 35 percent of the votes), calorie legislation (3.7 percent), and food safety (3.7 percent). Despite the industry’s […]
The International Franchise Association announced plans for a new initiative to help IFA member companies recruit more minority franchisees into their systems. Called "MinorityFran" the initiative is designed to provide one, convenient point where minority prospects can explore franchise offerings of companies actively looking to recruit minority franchisees. The initiative will build on relationships forged […]
Triarc Cos. Inc. (NYSE:TRY), a U.S. holding company and franchiser of Arby's restaurants, said on Wednesday it had named Francis McCarron chief financial officer. The company said in a statement that Mr. McCarron would replace John Barnes when Barnes, 53, retires on or about June 30. McCarron, 44, had been Triarc's senior vice president for […]
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