RTTNews | Nov 19, 2020 07:50AM EST

07:50 Thursday, November 19, 2020 (RTTNews.com) - The Wendy's Company said it has submitted a consortium bid together with a group of pre-qualified franchisees to acquire NPC's Wendy's restaurants. The company said it remains committed to maintaining ownership level of approximately 5% of the total Wendy's system.

NPC Quality Burgers, the company's largest franchisee, filed for chapter 11 bankruptcy in July 2020 and commenced a process to sell all or substantially all of its assets, including its interests in approximately 393 Wendy's restaurants, pursuant to a court-approved auction process.

Wendy's said, if the consortium bid is successful, it expects that several existing and new franchisees would be the ultimate purchasers of most of the NPC markets, with the company acquiring at most one or two markets.

Read the original article on RTTNews ( https://www.rttnews.com/3147383/wendy-s-files-consortium-bid-to-acquire-npc-s-wendy-s-restaurants-quick-facts.aspx)

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