*Sailormen Inc., a major Popeyes Louisiana Kitchen franchisee operating more than 130 locations, has filed for bankruptcy. The Miami-based company, a wholly owned subsidiary of Interfoods of America Inc., cited mounting debt and a collapsed restaurant sale as the main reasons behind the move.
The Sun reports that the company struggled under roughly $130 million in obligations and liquidity pressures. A planned $1 million sale of 16 Georgia locations to Tar Heels Spice in 2023 did not go through, leaving Sailormen responsible for continued lease payments. This exacerbated the franchisee’s financial challenges and led to a lawsuit from its lender.
In addition, Sailormen has faced multiple vendor lawsuits. One IT services provider claims the company fell behind on payments dating back to 2022. Despite these issues, Popeyes leadership emphasized that the filing is not a reflection of the broader health of the brand.
Peter Perdue, president of Popeyes US and Canada, said, “Sailormen has been a successful, growth-oriented franchise organization for many years in our system. A large majority of their restaurants are very profitable, in line with our system average (and some above average). I can confidently tell you that Sailormen’s announcement does not reflect the healthy unit economics that you are experiencing in your restaurants.”
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Perdue also noted that most of Sailormen’s locations are expected to remain open. “I strongly believe we will find success in the core of what we have always been great at: hand-battered, bone-in chicken. We have the menu and pricing power to offer our guests strong, everyday value options. And we have powerful platforms in tenders and sandwiches that will continue to deliver growth.”
Sailormen previously owned even more locations but downsized in 2018, selling restaurants in Alabama, Louisiana, and Mississippi. While the franchisee now works through bankruptcy proceedings, the majority of its Popeyes restaurants are anticipated to continue serving customers.
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