Perkins was established in 1958 and is famous for their all-day breakfasts and freshly baked pies. What’s in store for this popular American casual dining restaurant chain? Will they need to claim bankruptcy in order to increase buyer interest?
Perkins & Marie Callender’s Inc. has put itself up for sale and could file for bankruptcy protection as a condition of any deal.
Private investment funds managed by Wayzata Investment Partners LLC are the majority owners of Perkins, which operates two family-dining brands: Marie Callender’s and Perkins Restaurant & Bakery.
Perkins’ year-to-date same store sales are up 5.1%, while guest traffic is up 3.9%.
Year-to-date same-store sales at Marie Callender’s, the company’s smaller brand, are up 6.9% with guest traffic up 5.4.
The company also owns Foxtail Foods, a manufacturing arm with three plants that produce baked goods for foodservice and retail distribution.
The company declined to comment any further or specify if its same-store sales reflected systemwide locations, or company outlets.
Perkins Restaurant & Bakery had sales of $592.6 million in its latest year, down from $626.9 million in the preceding year, according to NRN’s 2019 Top 200 research.
Perkins had 356 total units in its latest year. Of those, 239 were franchise locations.