Popeyes Is Closing These 3 Stores in 2024 (Due to Bankruptcy)

Popeyes managed to edge out KFC's spot as the second-most popular fast-food chicken restaurant in the U.S. It still trails behind Chick-fil-A, which has the largest market share of the chicken eateries at 45%.

Popeyes is #2 in quick-service chicken restaurants

RRG blames its financial problems on three stores that are dragging down the performance of its portfolio. The company shared the following in its Chapter 11 bankruptcy filing:

Three Popeyes locations in Georgia will close in 2024

Frequently referred to as “reorganization bankruptcy,” Chapter 11 doesn’t mean the company goes out of business or has to sell off its assets.

What is Chapter 11 bankruptcy?

The three underperforming stores have saddled RRG with debt, most notably $238,595 in lease payments that have fallen behind.

RRG owes more than $400,000 in debts

Unfortunately, RRG isn’t alone in its bankruptcy. Numerous other restaurant franchisees are also going belly-up.

Other fast-food restaurants have also declared bankruptcy

Even though a few franchisees have run into trouble, Popeyes fans won’t need to worry about the company going under; it’s slated for growth overall during the coming years.

The future looks brighter for Popeyes

Although the news of closing stores and struggling franchisees isn’t great, Popeyes fans need not be discouraged.

Bottom line

The company continues to gain market share, even with tight competition from other chicken and fast-food restaurants.

Bottom line