The company also swung a net operating loss of $27 million. “Those factors include, among others, the national impact of the COVID-19 pandemic on restaurant operations, high inflation, increased borrowing rates, and an increasingly limited qualified labor force.” “This tragic loss, coupled with various macroeconomic factors, has caused tremendous uncertainty and disruption within the business,” court documents stated. The COVID pandemic had an impact on operations as well. Sidhu passed away unexpectedly in May 2022, which put Premier Kings in a difficult position as he was the sole stockholder and manager. Premier Kings earned $233.3 million and $255 million in sales in 20, respectively. From 2015 to 2021, 100-plus restaurants entered the portfolio in Tennessee, Florida, and South Carolina. He started with six stores in the Birmingham, Alabama, market and expanded in 2014 with 34 more units throughout Alabama, Georgia, and Tennessee. The company was founded in 2009 by Manraj Sidhu. It’s the third Burger King franchisee to enter court proceedings this year. Premier Kings, a 172-unit Burger King franchisee, declared bankruptcy in late October after the death of its owner created operational instability.
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