Some operators won’t even say the word “bankruptcy.” Take Adam Zeitsiff, CEO of Gold’s Gym when it filed for Chapter 11 in May 2020. "I don’t use the B-word," he said at the time. But can bankruptcy be a good thing? These five franchise operators used the process to their advantage.
Aurify Brands, the New York City-based operator of five restaurant chains, closed the acquisition last June of Le Pain Quotidien U.S., with ab…
Franchise Times today announces winners of the 2021 Franchise Times Dealmakers awards, the ninth annual project recognizing the boldest players driving mergers and acquisitions in franchising.
John Rigos, left, and Andy Stern, right, are Five Guys franchisees and co-founders of Aurify Brands, which they started to incubate and grow M…
Josh Morgan, left, and Spencer Rubin in front of their Union Square store in Manhattan. "You test something a thousands times, test it, make i…
The loaded tots and creamy shakes are big sellers at Melt Shop.
Spencer Rubin taught himself to cook by watching the Food Network and met his goal—to launch a restaurant by his 25th birthday—by opening Melt Shop when he turned, you guessed it, 25. Meet Aurify, started by two Five Guys franchisees, and its first and most promising original concept.
Bill Kane wasn't afraid to warn bidders in an Erie, Pennsylvania, bankruptcy court in January that he was taking home the prize. Like Kane, they wanted the franchise rights for 28 Perkins restaurants in Ohio, Pennsylvania and New York. “I turned around and said, ‘You might as well leave now because you're not going to outbid me.' I am a very substantial person. I stand 6-foot-10 and weigh 420 pounds, and I'm missing a leg. When I set my mind to doing something, I do it!”
