Wendy's disappearing from Oklahoma as franchisee goes bankrupt
Wendy’s, once the second-largest fast-food hamburger chain in the United States, is quickly disappearing from Oklahoma with restaurants across the state being closed by their bankrupt franchise owner . While closings in prior years involved older restaurants built in the 1970s in the years after the chain was started in 1969 by founder Dave Thomas, most of the latest closings involve locations built in just the past decade, with one open less than one year. The owner of the restaurants, Meritage Hospitality Group, filed for Chapter 11 bankruptcy on Sept. 17 amid a battle with the corporate offices for Wendy’s. When Meritage announced its bankruptcy, it blamed “system-wide headwinds” affecting the broader Wendy’s brand over the past few years. Burger King, meanwhile, recently reclaimed the No. 2 spot behind McDonald's. More: Wendy's franchisee with Oklahoma restaurants files for bankruptcy The Michigan franchisee at the time of the filing reported it operated 314 Wendy’s locations and had $651 million in liabilities and $725.9 million in assets. In further filings, Meritage blamed its troubles on rising beef prices and ineffective corporate marketing for the restaurants. As of Oct. 12, a site directory for the chain shows 12 restaurants still operational in the
