Popeyes franchisee with over 130 locations files for bankruptcy

A major Popeyes Louisiana Kitchen franchisee, Sailormen Inc. of Miami, has filed for Chapter 11 bankruptcy protection in the Southern District of Florida after struggling with heavy debt and rising costs.​

Who filed and where

• The debtor is Sailormen Inc., a long‑time Popeyes franchisee based in Miami, Florida.​

• The company filed for Chapter 11 bankruptcy on 15 January 2026 in the U.S. Bankruptcy Court for the Southern District of Florida.​

Size of the business

• Sailormen operates more than 130 Popeyes restaurants, with reports ranging from about 130 to 136 locations across Florida and Georgia.​

• Court and media reports indicate the company employs roughly 2,900 to 3,272 workers in its restaurants.​

Debt and financial condition

• In its bankruptcy petition, Sailormen reported about $\$130$ million in debt or liabilities, with total assets and liabilities both listed in the $\$100\text{–}500$ million range.​

• The business generated around $\$233.5$ million in sales but recorded an $\$18.8$ million net operating loss in its most recent year, reflecting sustained financial pressure.​

Reasons for the bankruptcy

• The company cites inflation‑driven cost increases, higher borrowing costs, wage pressures, and post‑pandemic shifts in customer traffic as key factors.​

• A failed 2023 deal to sell 16 Georgia locations left Sailormen still on the hook for those leases and triggered lawsuits and lease guarantees on closed stores, worsening liquidity.​

Lender and legal pressures

• Sailormen defaulted on credit facilities totaling about $\$130$ million from BMO Bank N.A., which then sued for breach of contract.​

• BMO requested a court‑appointed receiver to take control of the company, and that looming action was a direct catalyst for the Chapter 11 filing.​

Impact on restaurants and broader context

• Sailormen intends to continue operating its restaurants during the Chapter 11 process while it restructures its debts, so immediate widespread closures are not guaranteed.​

• This filing adds to a growing list of restaurant operators and franchisees entering bankruptcy in late 2025 and early 2026 as higher input costs and softer traffic pressure margins across the sector.​