{"id":2096924,"date":"2023-11-11T00:10:47","date_gmt":"2023-11-11T05:10:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/third-major-franchisee-gives-grim-news-burger-kings-keep-going-up-for-sale\/"},"modified":"2023-11-11T00:15:16","modified_gmt":"2023-11-11T05:15:16","slug":"third-major-franchisee-gives-grim-news-burger-kings-keep-going-up-for-sale","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/third-major-franchisee-gives-grim-news-burger-kings-keep-going-up-for-sale\/","title":{"rendered":"Third Major Franchisee Gives Grim News: Burger Kings Keep Going Up for Sale"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthird-major-franchisee-gives-grim-news-burger-kings-keep-going-up-for-sale%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2096924&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Call it a\u200b sign of the times, call it Bidenomics in action, but there\u2019s one thing you can definitely call it: a\u2063 potential economic catastrophe\u200b for an untold number of workers.<\/h2>\n<p>According to <a href=\"https:\/\/www.restaurantbusinessonline.com\/financing\/third-major-burger-king-franchisee-declares-bankruptcy\" target=\"_blank\" rel=\"noopener\">Restaurant Business \u2064Online<\/a>, a\u200d major \u2062Georgia-based <a href=\"https:\/\/www.westernjournal.com\/burger-king-pulls-advertising-rumble-russell-brand-scandal\/\" target=\"_blank\" rel=\"noopener\">Burger \u2062King<\/a> franchisee filed for Chapter 11 bankruptcy earlier this week, citing \u2064major operating losses even\u2063 after underperforming restaurants were closed.<\/p>\n<p>Premier Kings, which operates\u2064 172 Burger Kings in the Alabama and Georgia markets,\u2063 became the third major <a href=\"https:\/\/www.westernjournal.com\/not-joke-burger-kings-newest-meatless-burger-creation-just-20-slices-cheese\/\" target=\"_blank\" rel=\"noopener\">Burger King<\/a> franchisee to file for\u200d bankruptcy since the start \u200bof\u2064 the year.<\/p>\n<p>This is \u200bdespite \u200dthe fact that the chain, according to the \u200bpublication, \u201chas\u2062 shown stronger sales this year while traffic last\u200d quarter\u200d outperformed its competitors\u201d after\u200c initially \u2064struggling compared with other fast food giants as \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nyc-mayoral-candidates-ramp-up-fighting-a-month-before-primary\/\" title=\"NYC Mayoral Candidates Ramp Up Fighting a Month Before Primary\">pandemic restrictions lifted<\/a>.<\/p>\n<p>Part of the reason for continued struggles? High\u200b labor costs\u2063 and food inflation were two key issues, \u2063although the restaurant has said that\u200b smaller franchisees might also \u2064be able to \u200cbetter manage individual locations.<\/p>\n<p>Meridian \u2064Restaurants and Toms King, two other large\u2064 Burger King franchisees, \u200ddeclared\u2064 bankruptcy earlier\u200c this year.<\/p>\n<p>In the case of\u200d Premier Kings, part of the company\u2019s woes also has to do with the death of owner Patrick Sidhu; his Popeyes franchisee\u2064 also faced bankruptcy\u200c earlier this year in the wake of its owner\u2019s passing.<\/p>\n<p>In Premier Kings case, management brought \u2063in investment \u200bfirm <a href=\"https:\/\/www.westernjournal.com\/ap-berkshire-steps-into-fight-for-anadarko-on-occidentals-side\/\" target=\"_blank\" rel=\"noopener\">Raymond James &#038; Associates<\/a> to help market the chain\u2019s franchises and shutter unprofitable locations.<\/p>\n<p>\u201cBut those\u2064 cost cutting measures didn\u2019t work. The company \u200csaid that it faced pressure\u200b from landlords, vendors and with secured\u2063 lenders,\u201d the outlet reported.<\/p>\n<p>\u201cPremier \u200dKings generated $223\u2062 million \u200cin sales in 2022 and had an operating loss of $27 million. Bankruptcy court documents also\u200b reported $134.5 million\u200b in \u200cassets\u2063 and $123.1 million in \u2064liabilities.\u201d<\/p>\n<p>Now, \u2063several investors are looking to\u200d buy \u200csome of\u2062 the company\u2019s \u2062franchises \u2014 and\u200d further \u200dclosures likely aren\u2019t out of the\u200b question.<\/p>\n<p>Of course, this was always an entirely\u2064 predictable outcome of\u2063 <a href=\"https:\/\/www.westernjournal.com\/nyt-columnist-says-war-inflation-exclude-everything-people-need-live\/\" target=\"_blank\" rel=\"noopener\">unmanageable inflation<\/a> combined with cities and states\u2064 passing minimum \u2064wage requirements that were unrealistic if fast\u2064 food restaurants were to remain a \u2063cheap and \u2064viable entryway to \u2062low-skilled employment.<\/p>\n<p>Now, even venerable <a href=\"https:\/\/www.westernjournal.com\/judge-allows-class-action-whopper-lawsuit-proceed-burger-king-explaining\/\" target=\"_blank\" rel=\"noopener\">Burger King<\/a> \u200b\u2014 where, say what you will about it, you could always count on a cheap meal burger made\u200d your way, as the slogan went \u2014 is too expensive for many Americans. The\u2062 same thing could be said about any number of fast-food joints.<\/p>\n<p>As\u200b it comes to labor costs, \u200cthe conservative\u200d economist Thomas \u200bSowell\u2063 <a href=\"https:\/\/www.goodreads.com\/quotes\/736527-unfortunately-the-real-minimum-wage-is-always-zero-regardless-of\" target=\"_blank\" rel=\"noopener\">put it best<\/a>: \u201cUnfortunately, the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/large-businesses-are-using-technology-to-dodge-minimum-wage-hikes\/\" title=\"Large Businesses Are Using Technology To Dodge Minimum Wage Hikes\">real minimum wage<\/a> is \u200dalways zero, regardless of the laws, and that is \u2063the \u200bwage that many workers receive in\u2063 the \u2064wake of the \u200bcreation or escalation of \u200ba <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/did-steven-crowder-just-expose-wikipedias-left-wing-bias-watch-his-test-and-judge-for-yourself\/\" title=\"Did Steven Crowder Just Expose Wikipedia\u2019s Left-Wing Bias? Watch His Test And Judge For Yourself.\">government-mandated minimum wage<\/a>, because \u2062they \u2063lose their jobs or\u200c fail to find jobs\u2063 when they enter\u200d the labor force.<\/p>\n<p>\u201cMaking\u2064 it \u200dillegal to \u2063pay\u2063 less than a given amount does not make a\u2064 worker\u2019s productivity \u200dworth that amount\u2014and, if it \u2063is not, that worker is unlikely to be\u200d employed,\u201d <a href=\"https:\/\/www.westernjournal.com\/sowells-new-book-dismantles-social-justice-4-brutal-takedowns-dem-talking-points\/\" target=\"_blank\" rel=\"noopener\">Sowell<\/a> added.<\/p>\n<p>And, as for food inflation, like every other \u200cform of inflation the root cause \u200bis what the president now proudly calls \u201cBidenomics\u201d\u200c \u2014 \u2064the total mismanagement of an economy by an administration \u2062that shouldn\u2019t \u200dhave been \u2064put\u2063 in charge of,\u2063 well, a Burger\u2062 King\u2062 franchise. This is what\u200c you get when a drunken 12-car pileup of bad policies from every alphabet-soup department in Washington is allowed to\u2064 masquerade \u200cas a\u2063 comprehensive strategy.<\/p>\n<p>No, the Premier Kings \u2064bankruptcy\u2062 isn\u2019t \u2063an especially political story, and there\u2019s doubtlessly\u2064 more to \u200bit than meets\u200b the eye.<\/p>\n<p>But to\u2064 say that it \u200dhasn\u2019t been shaped by an administration which has\u200c <a href=\"https:\/\/www.westernjournal.com\/ap-jimmy-carter-2-0-biden-pay-6b-ransom-foreign-enemy-5-american-hostages\/\" target=\"_blank\" rel=\"noopener\">failed Americans<\/a> in every conceivable manner would be equally as stupid.<\/p>\n<hr>\n<h3>An Urgent Note from Our \u2064Staff:<\/h3>\n<p><em><b>The Western Journal has been labeled \u201cdangerous\u201d simply because we \u200bhave a biblical worldview and speak the truth about what is happening in America.<\/b><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">We refuse to let Big Tech and woke advertisers\u2064 dictate \u2063the content we share \u2064with our community. We stand for truth. We \u2062stand for\u2063 freedom. We stand with our readers.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">We\u2019re asking you \u2062to help us in this\u200b fight. <\/span><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><b>We can\u2019t do this without you<\/b><\/a><b>.<\/b><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Your <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/newt-gingrich-calls-8-republicans-traitors-they-should-all-be-driven-out-of-public-life\/\" title=\"Newt Gingrich labels 8 Republicans as 'traitors', demands their removal from public life.\">donation directly\u200c helps fund<\/a> our \u200ceditorial team\u200c of writers and editors. Your support means we can continue to expose false narratives and\u2062 defend traditional American values.<\/span><\/em><\/p>\n<p><em><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><span style=\"font-weight: 400\">Please stand with us by donating today<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/em><\/p>\n<p><em><b>Thank you \u2064for your support!<\/b><\/em><\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/third-major-franchisee-gives-grim-news-burger-kings-keep-going-sale\/\">Third Major Franchisee Gives Grim News: \u200bBurger Kings Keep Going Up for Sale<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The Western Journal<\/a>.<\/p>\n<p> <\/p>\n<h2>Unrealistic minimum wage\u200c requirements\u2064 and failing\u200c to address food inflation. Here are three related PAA questions:<\/h2>\n<p><span>  \u2062Ign. It\u2019s an economic reality that showcases \u200cthe devastating impact of rising labor costs and food inflation on\u200c businesses, particularly in \u2064the fast-food industry. Unfortunately, it also \u200bhighlights the negative consequences of unrealistic minimum wage requirements set by cities and states.<\/p>\n<p>Premier Kings, a prominent Burger King franchisee \u200doperating in the Alabama and Georgia markets, recently filed for\u200c Chapter 11 bankruptcy. This comes as the third major Burger King franchisee to declare bankruptcy this\u200c year, joining the ranks of Meridian Restaurants and Toms \u2062King. Despite Burger King as a chain showing stronger sales and outperforming competitors, Premier Kings struggled to\u200d overcome significant operating losses.<\/p>\n<p>Labor costs and\u2062 food inflation were identified as key issues contributing to Premier Kings&#8217; struggles. While the restaurant chain suggested that smaller franchisees might handle individual locations better, the challenges remained. The untimely passing\u200b of the owner, Patrick Sidhu, also added to\u2063 the company&#8217;s woes. Premier \u2063Kings sought the assistance of investment firm Raymond James &#038; Associates to market franchises and close unprofitable locations, but these <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/third-major-franchisee-gives-grim-news-burger-kings-keep-going-up-for-sale\/\" title=\"Third Major Franchisee Gives Grim News: Burger Kings Keep Going Up for Sale\">cost-cutting measures\u200d proved ineffective<\/a>.<\/p>\n<p>In 2022, Premier Kings reported $223 million in sales\u200b but suffered an operating loss of $27 million. \u2063The bankruptcy court\u2064 documents reveal $134.5 million in assets and $123.1 million\u200b in liabilities.\u200d Consequently, numerous investors are now \u2063considering purchasing\u2062 some of the company&#8217;s franchises, potentially leading to further \u200dclosures.<\/p>\n<p>This situation was foreseeable, given the combination of \u2062unmanageable inflation and unrealistic\u2064 minimum wage requirements. The affordability of \u200dfast food, once a reliably inexpensive option for \u2063low-skilled employment, has declined. Thomas Sowell, a conservative economist, \u200baccurately stated, &#8220;Unfortunately,\u2063 the\u2062 real minimum wage is always zero, regardless of the laws.&#8221; Many workers end up losing their jobs or struggle to find employment \u2064when the government mandates a minimum wage that exceeds their productivity.<\/p>\n<p>Furthermore, food inflation, a consequence of overall inflation, is a direct result of what is now referred to as &#8220;Bidenomics.&#8221; The mismanagement\u2064 of the\u200b economy by the current administration has led to devastating consequences, affecting businesses \u200dlike \u2063Premier Kings.\u2063 This demonstrates the\u200b negative impact of poor policymaking and the consequences of entrusting the economy to an administration ill-equipped for the task.<\/p>\n<p>The Premier Kings bankruptcy is a stark reminder of the challenges businesses face in the current economic climate, particularly in industries heavily reliant on low-skilled labor. It serves as a warning against implementing<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Call it a sign of the times, call it Bidenomics in action, but there\u2019s one thing you can definitely call it: a potential \u00a0economic catastrophe for an untold number of workers. According to Restaurant Business Online, a major Georgia-based Burger King franchisee filed for Chapter 11 bankruptcy earlier this week, citing major operating losses even<\/p>\n","protected":false},"author":663,"featured_media":2096925,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2096924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2096924","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/663"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2096924"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2096924\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2096925"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2096924"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2096924"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2096924"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}