92-Unit Burger King Franchisee Files For Bankruptcy

QSRweb.com:

Duke and King Acquisition Corp., a Burnsville, Minn.-based Burger King franchisee, has sought Chapter 11 bankruptcy protection and is currently seeking buyers. The company operates 92 Burger King units throughout the Midwest, including in Minnesota, Iowa and Wisconsin.

According to the Minneapolis/St. Paul Business Journal, D&K cited revenue shortfalls and a “constant drain” of capital expenditures ordered by the Burger King Corp. parent company.

The company has already closed five stores. Its subsidiaries, including DK Florida Holdings Inc., Duke and King Missouri Holdings Inc., Duke and King Missouri LLC and Duke and King Real Estate LLC, also have filed for Chapter 11 protection in Minnesota’s U.S. Bankruptcy Court.

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