The fast food chain in Brazil has closed its doors
Starting a business is not one of the easiest tasks in the world. Because a number of situations can lead to the end of a major project. For example, this time we will talk about the closure of a large fast food chain that has left the Brazilian market.
For those who don’t know, we’re talking about the fast food chain Wendy’s. Between 2019 and 2020, the company surprised by closing all of its branches in the country. At that time, InfoMoney contacted the network, which confirmed the information but did not explain the reasons for the decision.
In light of the decision, the company removed its official Facebook and Instagram pages as well as the Wendy’s Brasil website. The critical situation did not only exist in Brazil. This is because several branches of the chain had also closed their operations in the United States, which was shocking.
It turns out that NPC International Inc., one of the chain’s largest franchisors, has filed for bankruptcy after coronavirusrelated closures increased competitive pressures in the restaurant industry. The information was confirmed by the Gazeta News portal in 2020.
Wendy’s, a major fast food chain, has closed its doors in Brazil (Photo: Reproduction/Internet)
What does the company intend to do?
The privately held company filed for Chapter 11 bankruptcy protection in the Southern District of Texas on Wednesday. Founded in 1962, NPC operates 1,227 Pizza Hut locations and 393 Wendy’s locations across the U.S., according to court documents. The news caused fear among many.
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The company has $903 million in debt and has prenegotiated a restructuring agreement. Filing for bankruptcy doesn’t mean Pizza Hut and Wendy’s are going out of business. NPC can continue to operate while it develops a plan to pay its bills and turn around its business.
Wendy’s, a major fast food chain, has closed its doors in Brazil (Photo: Reproduction/Internet)
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