Core Viewpoint - A Popeyes Louisiana Kitchen franchisee, Sailormen Inc., has filed for bankruptcy due to mounting debt and various macroeconomic factors affecting its operations [1][2][3] Company Summary - Sailormen Inc. operates over 130 Popeyes locations in Florida and Georgia and is seeking to renegotiate $129 million in debt to emerge as a healthier franchisee [1][2] - The company attributes its financial struggles to the impact of the COVID-19 pandemic, high inflation, increased borrowing rates, and a limited qualified labor force [3] Industry Summary - The restaurant industry is facing a wave of bankruptcies, with projections indicating that more major chains will likely file for bankruptcy protection in the coming years due to heavy debt accumulated during the COVID-19 pandemic [8] - Experts suggest that many restaurants may not survive the next five years, leading to a decreased footprint in the industry [8][11] - The pandemic significantly reduced customer traffic, forcing operators to cover costs without sufficient revenue, leading to increased reliance on loans and government subsidies [12]