Major Popeyes franchisee with over 130 locations files for bankruptcy

A Popeyes Louisiana Kitchen franchisee that operates more than 130 locations filed for bankruptcy to rightsize itself after facing mounting debt. 

Sailormen Inc., a Miami-based franchisee that operates locations in Florida and Georgia, filed for bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Florida, according to its legal counsel.

The company, represented by Cole Schotz, is attempting to renegotiate or resolve the $129 million that it owes to lenders so it can emerge as a healthier franchisee.