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Sailormen Inc., Popeyes' major Florida and Georgia franchise operator, filed for Chapter 11 bankruptcy due to $342M in debt and a $18M 2025 loss, but will keep operating.
Sailormen Inc., a major Popeyes franchise operator with 136 locations in Florida and Georgia, has filed for Chapter 11 bankruptcy, citing over $342 million in liabilities, an $18 million net loss in 2025, and mounting debt from pandemic-era challenges, rising costs, and higher borrowing rates.
The Miami-based company, which operates under a high-debt structure, avoided a federal receiver by seeking bankruptcy protection, allowing it to continue operations while restructuring.
Its largest lender, BMO Bank, had sued for control.
No store closures are planned, and Popeyes parent company says the filing reflects the franchisee’s financial issues, not brand-wide problems.
Sailormen Inc., el principal operador de franquicias de Popeyes en Florida y Georgia, se declaró en bancarrota del Capítulo 11 debido a una deuda de $ 342 millones y una pérdida de $ 18 millones en 2025, pero continuará operando.