Popeyes franchisee with over 130 locations files for bankruptcy

Core Insights - A Popeyes franchisee, Sailormen, Inc., has filed for Chapter 11 bankruptcy due to significant debt and adverse market conditions [2][4] - The company reported debts nearing $130 million, attributed to the lasting impacts of the COVID-19 pandemic, inflation, and a limited qualified labor force [2][3] - Sailormen, Inc. operates 136 Popeyes locations in Florida and Georgia, employing 3,272 hourly workers as of the filing date [3][4] Company Background - Sailormen, Inc. was founded in 1984 to operate Popeyes restaurants and was acquired in 1987, initially operating 11 locations in Miami [6] - The company expanded into several new markets from 1995 to 2000, including Alabama, Florida, Georgia, Illinois, Louisiana, Missouri, and Mississippi [7] - Between 2012 and 2018, Sailormen sold off markets outside Florida and Georgia to focus on new store development in these states [7]