Jonathan Maze

Editor-in-Chief

Articles by
Jonathan Maze

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Financing

Service improvements, and the Bearista cup, drove Starbucks sales last quarter

The coffee shop giant said its domestic same-store sales rose 4% in the period, its best performance in two years, as the holiday product launch and its new service model drove higher transactions.

Financing

Fat Brands, burdened with heavy debt, declares bankruptcy

The owner of Fazoli’s, Round Table Pizza and several other brands is seeking Chapter 11 debt protection. The company’s whole business securitization was “starving the business.”

The Bottom Line: The National Owners Association, an independent group of the fast-food chain’s operators, has approved a list of 15 standards it considers vital to fair franchising, including the right to set prices.

More than a quarter of franchisees signed a petition through an independent association asking for changes to the chain's "Sub Club" redemption. But the company said the program is off to a "strong start."

The Bottom Line: This week’s edition of the restaurant finance newsletter looks at the Popeyes franchisee bankruptcy and why financial metrics are crucial operational standards.

352 Capital, a subsidiary of Jefferies Financial Group, is suing the fast-food restaurant chain operator for refusing to hand over shares in the casual-dining brand as collateral.

The Bottom Line: With restaurant company valuations low following a tough 2025, several chains could be ripe targets for a takeout, if buyers are up for some risk.

The Week in Restaurants: This week’s episode of the restaurant news discussion podcast looks at the bankruptcy filing of Sailormen, sales improvement at burger chains and who could go public next.

The Bottom Line: The Trump Administration’s immigration enforcement policy is closing restaurants and hurting operators. But that’s nothing compared to the long-term impact it will have on sales and labor costs.

The Chinese pork producer will be buying the hot dog maker and owner of the Nathan’s Famous chain for $102 per share.

The Bottom Line: Several restaurant chains either announced or were reported to have closed locations as brands look to reset their asset base following a tough year for sales and profitability.

Data from Five Guys, Shake Shack, Steak n Shake and others point to a resurgence of the burger last year despite problems at many fast-food chains.

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