Indiana
Arby’s franchisee Miracle Restaurant Group files Chapter 11 bankruptcy. Are stores closing?
Hooters hit by inflation, forced to close 40 locations across US
Hooters abruptly shut down around 40 locations across the US due to poor financial performance.
Benzinga – News
Arby’s franchisee Miracle Restaurant Group has once again filed for Chapter 11 bankruptcy and could sell multiple stores in three states, according to court documents.
Court documents show Chapter 11 bankruptcy was filed by Miracle Restaurant Group on June 20, 2024. The business was formed in 2005 and currently own and operates 25 Arby’s restaurants across Illinois, Indiana, Louisiana, Mississippi and Texas.
Several restaurants have been filing for Chapter 11 bankruptcy or closing stores in 2024, including Red Lobster, Hooters, Tijuana Flats and Alamo Drafthouse to name a few.
Hooters closing 2024: Locations are closing; 2 restaurants near Louisville among dozens closed
The court documents for Miracle Restaurant Group state:
“In September 2023, the Debtor sold three of its stores located in Indiana and used the proceeds to pay down its notes with First Franchise Capital Corporation (“FFCC”), the LH Mortgage, and the U.S. Small Business Administration (“SBA”). The Debtor’s remaining two stores in Indiana remain operating.”
Additionally, stores in other states are also being impacted:
“The Debtor intends to continue to market and sell its seven Texas Stores, eight Illinois Stores and two remaining Indiana Stores through the Bankruptcy Process, and to focus on its Louisiana and Mississippi Stores. To accomplish this, the Debtor has retained Peak Franchise Capital, LLC as financial advisor to assist in marketing the Debtor’s stores.”
CEO Donald Moore declined to answer questions about the bankruptcy when contacted by phone. In the filing, Moore notes he has “experience in senior officer roles at public and private restaurants since 1990.”
Red Lobster closing 2024: Red Lobster lists 99 restaurants closed in 28 states: See locations closing in your state
Here’s what to know:
Is Arby’s filing for Chapter 11 bankruptcy?
No. Franchise operator Miracle Restaurant Group is filing for bankruptcy and owns 25 Arby’s locations in Illinois, Indiana, Louisiana, Mississippi and Texas.
Who owns Arby’s?
Arby’s is owned by Inspire Brands. They own several restaurants including Baskin Robbins, Buffalo Wild Wings, Dunkin’, Jimmy John’s and SONIC.
Are Arby’s restaurant locations closing via Miracle Restaurant Group’s Chapter 11 bankruptcy?
No. Miracle Restaurant Group is attempting to sell the remaining locations in Illinois (8), Indiana (2) and Texas (7), according to court documents.
Has Miracle Restaurant Group filed for Chapter 11 bankruptcy previously?
Yes, this is Miracle Restaurant Group’s second Chapter 11 filing. The franchisee used to own 60 Arby’s franchise locations before filing for Chapter 11 bankruptcy in 2010, according to court documents. A number of stores were closed after the plan was confirmed and all creditors were paid in full under the plan.
What Arby’s restaurant locations could be closing in Illinois, Indiana and Texas?
Miracle Restaurant Group has not confirmed a list of store closings or which restaurants are being sold. Below is a list of locations posted on the website at mrgarbys.com/locations.htm. Three Indiana locations were sold in September 2023, but which stores were sold is unclear.
Arby’s restaurants in Illinois related to Miracle Restaurant Group
- 6000 Northwest Highway, Crystal Lake, IL 60014
- 1169 Dundee Ave., Elgin, IL 60120 – CLOSED
- 340 North York Road, Elmhurst, IL 60126
- 1874 E. Belvidere Road, Grayslake, IL 60030
- 2307 Jefferson, Joliet, IL 60435 – CLOSED
- 9550 W. 179th St., Tinley Park, IL 60477
- 1800 N. Richmond Road, McHenry, IL 60050 – CLOSED
- 520 Townline Road, Mundelein, IL 60060 – CLOSED
- 7001 W. Dempster Ave., Niles, IL 60714
- 2539 Greenbay Road, North Chicago, IL 60064
- 139 N. Northwest Highway, Palatine, IL 60067 – CLOSED
- 1331 Golf Road, Rolling Meadows, IL 60008 – CLOSED
- 776 Rollins Road, Round Lake Beach, IL 60073
Arby’s restaurants in Indiana related to Miracle Restaurant Group
Arby’s restaurants in Louisiana related to Miracle Restaurant Group
Arby’s restaurants in Mississippi related to Miracle Restaurant Group
Arby’s restaurants in Texas related to Miracle Restaurant Group
- 7222 I-40 W., Amarillo, TX 79108
- 4020 82nd St., Lubbock, TX 79423
- 5052 Frankford Ave., Lubbock, TX 79424 – CLOSED
- 5711 19th St., Lubbock, TX 79407
- 7701 I-40 W., Suite No. 208, Amarillo, TX 79109 – CLOSED
- 5214 S. Western St., Amarillo, TX 79109
- 2422 19th St., Lubbock, TX 79401 – CLOSED
Chris Sims is a digital content producer for Midwest Connect Gannett. Follow him on Twitter: @ChrisFSims.
INDIANAPOLIS (WISH) — A man is dead after a shooting Thursday night on Indy’s near east side, police say.
According to the Indianapolis Metropolitan Police Department, just after 8 p.m., officers were called to the 2000 block of East Washington Street on a report of a person shot.
When officers arrived, they found an adult male inside an apartment with injuries consistent with gunshot wounds.
Indianapolis Emergency Medical Services transported the man to a hospital in critical condition, where died shortly after arriving.
Homicide detectives responded to the scene to begin the investigation.
Crime Resources
Gov. Mike Braun asked state regulators to reconsider their decision to greenlight a $71 million rate increase for AES Indiana, doubling down on his condemnation of a move that could leave Indianapolis residents with higher electrical bills for years.
Braun wrote in a June 18 news release that he had asked Indiana Utility Counselor Abby Gray, who heads the office representing ratepayers in proceedings before the Indiana Utility Regulatory Commission, to petition for a rehearing of the AES rate case.
Gray indicated in the release that her office would submit the petition shortly. No petition had been posted on the IURC’s online docket as of this story’s publication.
The rate increase, which was approved by the IURC on June 17, was substantially less than the $192 million increase that AES initially requested. It was also less than the amount proposed in a settlement last October between AES and major electricity consumers.
But the Office of Utility Consumer Counselor, which Gray leads, came out strongly against any increase to AES’s base rates. In September, the OUCC called for a $21 million reduction instead.
As the Republican Party grapples with rising discontent over affordability, Braun has used opposition to rising utility rates to telegraph that he’s committed to keeping costs down for Indiana residents. He signed a law in February that allows the state to make rate-setting decisions that reward or penalize utilities based on metrics including affordability.
In March, he told reporters that he would take on Indiana’s five investor-owned utilities, describing himself as the “new sheriff in town.”
And after the IURC voted 3-1 to approve the AES rate increase, he wrote in a post to X that he was “deeply disappointed.”
Braun wrote in the June 18 news release that he had appointed Gray, a longtime OUCC lawyer and judge, to her current post because he knew she “would help me fight for Hoosiers.”
According to AES’s estimates, the rate increase will cost households an additional $5 per month for every 1,000 kilowatt hours of electricity they use, beginning in July. A second hike will take effect in January.
Tilly Robinson is a Pulliam fellow for the Indianapolis Star. She can be reached at tilly.robinson@indystar.com.
The Protect College Sports Act, legislation meant to introduce and codify sweeping reforms related to college athletics, passed out of the Senate Commerce Committee on Thursday morning.
It now heads to the Senate floor.
The bill passed out of committee by a 19-9 vote. Indiana Republican Sen. Todd Young voted no, his decision reflecting Big Ten concerns over the bill.
A spokesman for Sen. Young told IndyStar, “Senator Young hopes that additional changes can be made to the bill to address concerns raised by the Big Ten.”
Co-sponsored by Ted Cruz (R-Texas) and Maria Cantwell (D-Washington), the Protect College Sports Act represents Congress’ most substantial success so far in a yearslong effort to bring legislative reform to college athletics. Since before the COVID-19 pandemic, leaders in college sports — including the NCAA, member conferences and schools, and other major players — have lobbied for national solutions to what have become state and regional problems.
Several pieces of legislation have been introduced across the last several years, only to fizzle long before reaching the floor of either chamber. The SCORE Act, introduced last year in the House of Representatives, gained some traction and passed out of committee, but was never brought to the floor.
Which makes Thursday’s news meaningful. Moving the Protect College Sports Act to the Senate floor, while not a guarantee of any outcome, potentially takes the bill past a threshold no other such piece of reformative legislation has yet been able to cross.
Cruz told Yahoo! Sports’ Ross Dellenger on Thursday that Cruz believes Sen. Majority Leader John Thune (R-S.D.) is committed to introducing the bill to the Senate floor soon.
The bill provides a legal framework for a host of potential reforms and protections for college sports. It grants limited antitrust protection to the NCAA, places limits on certain things including potential conference realignment, builds safeguards meant to protect non-revenue and Olympic sports, addresses potential broadcast rights reforms, and more.
It enjoys significant backing, and not just among leaders in college sports. This week, the NFL, its players’ association, the National Basketball Players Association and Major League Baseball all voiced their support for the bill.
Two key constituencies not in lockstep on the bill voiced their own concerns Thursday.
In a joint statement issued just after 10 a.m. Thursday, the Big Ten and SEC — far and away the two most powerful conferences and arguably two greatest power centers, full stop, in college athletics — suggested they still hold significant reservations over the bill.
“From the outset, we identified a set of essential revisions to the PCSA necessary for the long-term sustainability of college athletics,” the statement read. “We have worked with both majority and minority staff to advance those revisions, which focus on better supporting student-athletes and stabilizing the college sports environment. We continue to believe revisions are needed to secure our support for the bill.
“Despite our sustained engagement and good faith efforts, these critical revisions have not been accepted.”
The statement went on to note the “several Commerce Committee members that share our concerns and support these recommendations.”
Young is one of several members of the committee representing a Big Ten state, including one of three Republicans. He is the only Republican member of the committee whose state contains multiple schools in the conference.
Allowing for those reservations, Thursday’s news is still significant. It marks the first time a bipartisan bill on the subject has reached this point in the Senate and, should it be brought to the floor, it would be the first such legislation to reach that stage, in either chamber.
The bill could be brought to the Senate floor as early as July, though that timeline remains fluid.
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