Global Foodservice News
Restaurants with Forgiven PPP Loans Could Face a Tax Wallop
As restaurateurs wait to see if their Paycheck Protection Program (PPP) loans will be forgiven, accountants and industry lobbyists are warning that the waiver of repayment could foist a significant and often unforeseen tax burden on the borrowers. When Congress established the PPP under the omnibus CARES Act in March, it specified that loans essentially…
Read MoreA Look at the Mechanics of how a Legacy Brand Reinvents Itself
Two Years Into Dunkin’s Rebrand, VP Drayton Martin Talks Coffee, Logos, and Even Donuts Despite the pandemic-prompted loss of foot traffic, retail coffee is still among the most robust segments of the restaurant business. According to Research and Markets, coffee shops are expected to grow by 13% between now and 2024, becoming an $81 billion…
Read MoreGuillermo Perales’ Sun Holdings Buys 41 IHOP Restaurants from Bankrupt CFRA Holdings
The restaurants, which are now owned by Sun Holdings subsidiary Suncakes LLC, are in Tennessee, North Carolina, Virginia, and South Carolina and were previously owned by CFRA Holdings, which filed for Chapter 11 bankruptcy protection in May and closed 49 IHOP restaurants. Ownership was transferred in July, according to a statement from IHOP, which is…
Read MoreNew York City Issues Rules for Heating Outdoor Dining Spaces
New York City on announced the rules for restaurants to heat the outdoor dining spaces that they were allowed to set up in June in response to dining rooms being ordered closed to help prevent the spread of the novel coronavirus. Electric radiant heaters — which heat objects rather than the air and therefore are…
Read MorePeace in Chicken Sandwich Wars? One Brand Hopes So
Emerging fast-casual wants to host a Peace Summit between Chick-fil-A and Popeyes—and launch its own chicken sandwich while it’s at it. Erupting in the wake of Popeyes’ hugely successful chicken sandwich launch in August 2019, the so-called “chicken-sandwich wars” pitted Popeyes and Chick-fil-A in a highly publicized battle for poultry supremacy that helped the former…
Read MoreFast Food Chain KFC to add 5,400 New Jobs in UK, Ireland
Fast-food chain KFC said it will add 5,400 jobs across its 965 restaurants in the UK and Ireland by the end of 2020, in a rare piece of good news for Britain’s pandemic-hit jobs market. Britain’s unemployment rate hit its highest level in more than three years earlier in October and is expected to jump…
Read MoreFazoli’s Ramps up National Expansion with Six new Franchisees and 12 new Locations
Lexington, Ky.-based, fast-casual Italian-American chain Fazoli’s announced a major national expansion Thursday, with the addition of six new franchisees, totaling 12 new locations across Iowa, Florida, Kentucky, Tennessee, and Texas. Additionally, a current Fazoli’s franchisee is opening two locations in Georgia. Currently, with 220 restaurants in 28 states, Fazoli’s is planning to begin opening this…
Read MoreArby’s Enters Mexico, and Pandemic Pushes new U.S. Customers to try its Sandwiches
Arby’s is privately owned by Inspire Brands, which is backed by private equity firm Roark Capital. Its sister chains include Jimmy John’s, Buffalo Wild Wings and Sonic. Arby’s first Mexican restaurant opens Thursday in Guadalajara, with another location in the country slated to start serving customers early next year. Key Spot Group, a division of…
Read MoreSysco Hires New Chief Commercial Officer
In her new role, Ms. Sansone will lead Sysco’s overall commercial strategies, including responsibility for merchandising, marketing, pricing, digital sales enablement, customer loyalty program development, customer personalization, and exploring new channel sales development. She will be tasked with coordinating company-wide efforts to grow sales with merchandising, marketing, and personalized engagement. Ms. Sansone also will work…
Read MoreWendy’s Brings Aboard New CIO
In his new role, Mr. Vasconi will assume responsibility for all aspects of Wendy’s global technology efforts, the company said, including consumer-facing digital, restaurant technology, enterprise architecture and technology, and information security. Mr. Vasconi joins Wendy’s from Domino’s Pizza, where he spent the last eight years as executive vice president and CIO. Prior to his…
Read More
