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

The useful part

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. One of Wendy's largest franchisees, Meritage Hospitality Group Inc., which runs 314 Wendy's locations, is seeking Chapter 11 bankruptcy protection.

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• Here's what you need to know about the bankruptcy and whether it means even more Wendy's stores will close.
• 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.