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A Popeyes franchisee with more than 130 locations in multiple states has reportedly filed for bankruptcy.
Sailormen, Inc., a company based in Miami, filed Chapter 11 bankruptcy in the Southern District of Florida last Thursday (January 15), claiming it was in debt by nearly $130 million, according to court documents obtained by USA TODAY. The franchisee said it continued to face lasting impacts of the COVID-19 pandemic, inflation and an "increasingly limited qualified labor force" prior to its decision, the court documents state.
Sailormen, Inc. was also reported to have previously tried to sell 16 Popeyes locations in 2023, though the deal fell through and it was left responsible for the restaurant leases, adding to its financial burden. A total 3,272 hourly workers were reported to be employed by the Sailormen Popeyes restaurants as of January 15.
Popeyes reportedly didn't immediately respond to USA TODAY's request for comment on the situation last Friday (January 16). Sailormen didn't shared plans about possible store closings following its bankruptcy filing, though documents confirm that it operates a total 136 locations in Florida and Georgia.
The company was founded in 1984 "for the purpose of owning and operating Popeyes restaurants, according to bankruptcy documents, and was acquired by businessmen Bob Berg and Steve Wemple in 1987, at which point it operated 11 locations in the Miami area. Sailormen eventually expanded to include stores in Alabama, Illinois, Louisiana, Missouri and Mississippi between 1995 and 2000, but would later sell off markets in those states between 2012 and 2018 in an effort to focus on new store development in Florida and Georgia.