Burger King
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stagnant growth, many of its franchises were in some sort of financial distress. The lack of growth severely impacted BKC’s largest franchise, the nearly 400 store AmeriKing; by 2001 the company, which until this point had been struggling under a nearly 0 million debt load and been shedding store across the US, was forced to enter Chapter 11 bankruptcy. The failure of AmeriKing deeply affected the value of the BKC, and put negotiations between Diaego and the TPC Capital-lead group on hold. The developments eventually forced Diaego to lower the total selling price of BKC by almost three quarters of a billion dollars. After the sale, newly appointed CEO Bradley Blum initiated a program to help the roughly 20% of its franchises, including its four largest, who were in financial distress, bankruptcy or had ceased operations altogether. Partnering with the California-based
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