Meritage Initiates Voluntary Chapter 11 Process to Strengthen Its Balance Sheet and Position the Company for Long-Term Success

Meritage Hospitality Group Inc., one of the nation's largest restaurant operators with 314 Wendy's locations and approximately 9,000 employees, has voluntarily filed for Chapter 11 bankruptcy to strengthen its balance sheet and address sustained financial pressures affecting the Wendy's brand system-wide. The company plans to maintain restaurant operations and continue paying employees during restructuring, supported by debtor-in-possession financing.