Restaurant bankruptcies have continued to reshape parts of the quick-service industry as operators face higher labor, food, and borrowing costs. That pressure is now playing out across Popeyes’ footprint in Florida and Georgia, where major franchisee Sailormen Inc. has moved to sell off most of its stores. The latest court-approved transactions shifted nearly 100 locations to new operators, while other restaurants remain unresolved.
Sailormen sold 97 Popeyes restaurants in a court-supervised deal
Sailormen Inc., a Miami-based Popeyes franchisee, sold 97 restaurants out of the 136 it operated across Florida and Georgia, according to bankruptcy filings cited by Nation’s Restaurant News. The outlet reported on June 26, 2026, that the company had lined up buyers for those stores as part of its Chapter 11 case in the U.S. Bankruptcy Court for the Southern District of Florida. Bloomberg Law separately reported that five winning bidders agreed to pay nearly $16.6 million in total for the 97 restaurants.
The largest single transaction involved 50 restaurants in the Tampa, Tallahassee, Pensacola, and Jacksonville markets. Nation’s Restaurant News reported those stores are being acquired by Pulse Restaurant Group for about $2.69 million. Other approved buyers include RFI Ventures LLC for 23 Orlando-area restaurants, Popeyes corporate for 16 Miami-area stores, SBH Foods PLK LLC for five Savannah, Georgia, locations, and 61 Biscuits LLC for three West Palm Beach-area units, according to court filings summarized by Nation’s Restaurant News and Bloomberg Law.
The sales followed Sailormen’s January 15, 2026 Chapter 11 filing. Bloomberg Law reported that Sailormen entered bankruptcy with estimated liabilities between $100 million and $500 million, while Nation’s Restaurant News said the company estimated its debt at about $130 million in its filing.
Florida has the biggest share of affected markets, but not every store has a buyer
The immediate impact is concentrated in Florida, where most of the sold restaurants are located. Confirmed Florida markets in the transaction include Tampa, Tallahassee, Pensacola, Jacksonville, Orlando, Miami, and West Palm Beach, while Savannah is the confirmed Georgia market named in reports. Based on the announced buyer breakdown, Florida accounts for 92 of the 97 restaurants sold, and Georgia accounts for five.
What is not yet fully public is a complete address-by-address list of every affected restaurant. The company has not released a comprehensive list of all Florida and Georgia locations included in each transaction in public-facing announcements. Nation’s Restaurant News also reported that 52 restaurants failed to attract buyers during the auction process, leaving a significant number of stores in limbo as the case continues.
Some closures are already moving forward. Nation’s Restaurant News reported that a federal bankruptcy court approved lease rejections for 18 locations, including 15 in Florida and three in Georgia, making those restaurants likely to close by the end of June. For customers, that means a local Popeyes may stay open under new ownership, but some stores that did not receive bids may still shut down if leases are rejected.
Rising costs, weaker traffic, and debt all fed the collapse
Sailormen tied its bankruptcy to several operating pressures that have weighed on restaurant franchisees more broadly. Nation’s Restaurant News reported that the company cited inflation, increased borrowing expenses, higher wages, and shifts in post-pandemic consumer behavior that lowered traffic. Those reasons align with Bloomberg Law’s reporting that the filing came after conflict with lender BMO Bank over roughly $129 million in debt.
The financial strain appears to have been substantial before the store sales were approved. Nation’s Restaurant News reported Sailormen ended 2025 with more than $233 million in sales but a net operating loss of nearly $19 million. Bloomberg Law also reported that Sailormen was the fourth-largest Popeyes franchisee in the United States, underscoring the scale of the restructuring.
For customers in Florida and Georgia, the practical takeaway is that many restaurants are expected to continue operating, but under different owners. A Popeyes spokesperson told Nation’s Restaurant News that the auction placed 97 restaurants in the hands of operators positioned to reinvest in the business and continue serving their communities. The company has not released a full list of stores still at risk, so the status of some locations will depend on future court action.