Burger King owner with dozens of GA, FL locations files for bankruptcy
The logo of Burger King at branch of the fast food restaurant, on April 15, 2022. (Photo by Matt Cardy/Getty Images)
VALDOSTA, Ga. - A major Burger King franchisee with dozens of restaurants in South Georgia and Florida has filed for Chapter 11 bankruptcy protection, citing years of financial struggles worsened by the COVID-19 pandemic, according to USA Today.
What we know:
Consolidated Burger Holdings, based in Destin, Florida, filed for bankruptcy on April 14 in the U.S. Bankruptcy Court for the Northern District of Florida. The company operates 57 Burger King locations, including restaurants in Valdosta, Tifton, and Cordele.
According to court filings, the franchisee experienced a significant decline in foot traffic and revenue during and after the pandemic, while fixed costs such as rent and debt service remained high. Sales dropped from $76.6 million in fiscal year 2023 to $67 million in 2024, with operating losses deepening from $6.3 million to $12.5 million over the same period.
The company listed both its assets and liabilities at approximately $78 million.
What's next:
Despite the bankruptcy filing, Consolidated Burger says it plans to continue operations and is actively pursuing a sale of the business and its assets. It had already been searching for a buyer for seven months prior to the filing, according to court records.