A major Wendy’s franchisee with 314 stores just filed for bankruptcy. What it means for the burger chain’s footprint

Despite being the third-largest fast-food hamburger chain in the world and the second-largest in the U.S. after McDonald’s, Wendy’s has struggled lately with declining sales and a shrinking store footprint. This week, another worrying sign suggests the brand’s troubles are far from over. One of Wendy’s largest franchisees, Meritage Hospitality Group Inc., which runs 314 Wendy’s locations, is seeking Chapter 11 bankruptcy protection. Here’s what you need to know about the bankruptcy and whether it means even more Wendy’s stores will close. What’s happened? On Thursday, Meritage Hospitality Group Inc., a major Wendy’s franchisee, announced it has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Western District of Michigan. While Meritage owns a number of restaurants, including five independent concept stores and one Bojangles, the majority of its portfolio includes Wendy’s stores. The company says it currently operates 314 Wendy’s restaurants in 15 states. The bankruptcy filing comes just months after the company held its annual meeting in June, where it announced that it has closed around 60 underperforming Wendy’s stores. According to the a…