Meritage Hospitality Group Initiates Voluntary Chapter 11 Process

GRAND RAPIDS, Mich., Sept. 17, 2026 /CourierPR/ -- Meritage Hospitality Group Inc., one of the nation’s largest restaurant operators, has initiated a voluntary Chapter 11 process under the United States Bankruptcy Code. The company took this step to strengthen its balance sheet and establish a sustainable capital structure that will position it for long-term success.

Meritage currently operates 314 Wendy’s restaurants, one Bojangles, and five independently branded concepts across 15 states. The company’s decision to file for bankruptcy follows a candid assessment of the financial pressures it has faced, particularly the sustained system-wide headwinds affecting the broader Wendy’s brand over the past few years. Despite more than a year of constructive dialogue with its lenders and franchisor, the company’s Board of Directors and management team concluded that a voluntary, court-supervised restructuring is the most effective and proactive path forward.

The filing will enable Meritage to address its financial pressures and explore strategic alternatives to maximize value for all stakeholders. The company intends to maintain restaurant-level operations during the restructuring process and continue paying its approximately 9,000 team members their wages and benefits without interruption, subject to Court approval. Additionally, Meritage plans to honor its commitments to guests and continue paying suppliers and vendors in the ordinary course for goods and services provided on or after the filing date.

Meritage Hospitality Group Inc. believes that the Chapter 11 process will provide the tools necessary to address its financial challenges and create financial flexibility. The company is in the process of obtaining debtor-in-possession (DIP) financing and expects this financing, together with cash generated from ongoing operations, to provide sufficient liquidity to support the business and meet its obligations throughout the Chapter 11 process.

As of June 28, 2026, the company had fully diluted weighted average common shares outstanding of 6,720,000. Meritage’s current and publicly available information can be found at www.otcmarkets.com, under the stock symbol MHGU/Disclosures or the company’s website, www.meritagehospitality.com.

McDonald Hopkins LLC is serving as legal counsel, and Fort Dearborn Partners is acting as restructuring advisor to the company in connection with this process. Court filings and information about the Chapter 11 process are available on a website maintained by the company’s proposed claims and noticing agent, Kroll (restructuring.ra.kroll.com/Meritage). Employees, vendors, and other stakeholders with questions may also contact [email protected].

Meritage Hospitality Group Inc. remains grateful for the continued loyalty and commitment of its team members, guests, vendors, and communities as it moves forward through this restructuring process.