On September 18, 2026, CNBC reported that Meritage Hospitality Group, one of The Wendy's Company (NASDAQ:WEN) largest U.S. franchisees, filed for Chapter 11 bankruptcy protection, citing the financial strain from six consecutive quarters of same-store sales declines at the burger chain. Meritage, which operates 314 Wendy's restaurants across 15 states, said store-level earnings before interest, taxes, depreciation, and amortization dropped by 48% in 2025 amid rising beef costs and heavier discounting. Forbes subsequently argued that the bankruptcy changes Wendy's investment case by exposing deeper franchisee stress and making any potential takeover more complicated. Don't Miss: Jersey Mike's (JMKE) Owns the Sub Business.
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