Consumer Law

Wendy’s and Flynn Restaurant Group Clear the Way for NPC’s Bankruptcy Sale

Wendy’s and Flynn Restaurant Group have reached a deal that clears the way for Flynn to purchase half the 393 Wendy’s locations operated by bankrupt NPC International, according to federal securities filings and court documents filed Thursday.

Five other operators that were part of a group Wendy’s put together to buy the restaurants will acquire the remaining locations.

The deal, which is awaiting bankruptcy court approval, paves the way for an $801 million sale of the NPC restaurants out of bankruptcy, including 925 Pizza Hut locations that will all go to Flynn Restaurant Group or FRG.

“This is an excellent outcome for NPC’s Wendy’s restaurants and our team,” Carl Hauch, CEO of NPC’s Wendy’s division, said in a statement. “We are very pleased that our restaurants will be joining the ranks of established, high-performing restaurant franchise groups.”

Read the source article at Restaurant Business Magazine

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