Local entrepreneur James L. Shaub II’s job running SouthEast Waffles, a 113-restaurant Waffle House franchise based in Nashville, remains under the scrutiny of creditors amid whispers of missing millions and the shadow of a pending Chapter 11 bankruptcy hearing.
Next week, Shaub could lose his job at what is now the second-largest franchise under the umbrella of Norcross, Ga.-based Waffle House, which granted SouthEast Waffles its franchise here.
Executives with the Waffle House parent company want a bankruptcy judge to oust Shaub from the franchise he bought nearly a decade ago and stop his $20,000-a-month executive salary.
The Georgia-based chain isn’t in bankruptcy itself — only Shaub’s franchise is mired in the court proceedings. A court-approved turnaround specialist has been appointed to help run the franchise with Shaub serving as his adviser. More.
Photo: Jae S. Lee / The Tennessean.
