Sailormen is the case study every chicken lender and landlord should be reading. A 136-unit operator generating $233.5M of revenue filed Chapter 11 within twelve months of Popeyes franchisee restaurant-level profit falling to roughly $235,000 per store. The portfolio cleared at $16.55M for 97 restaurants — about $171,000 per operating restaurant for the business — and 33 locations went dark through lease rejection. Those dark boxes are now the most interesting second-generation chicken inventory in Florida and Georgia.
| Date | Type | Detail | Value |
|---|---|---|---|
| 2026 | Bankruptcy sale | Sailormen, Inc. — 97 Popeyes restaurants Pulse Restaurant Group 50 units / $2.69M; RFI Ventures 23 units / $2.5M; Popeyes corporate 16 units / $9.6M; SBH Foods PLK 5 units / $650K; 61 Biscuits 3 units / $1.11M. Approximately 33 additional locations closed via lease rejection.2 | $16.55M |
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What it means for the Chicken Wars: 3,300 employees, $233.5M of fiscal 2025 revenue, 136 restaurants across Florida and Georgia — gone as a going concern within twelve months of the franchisor reporting $235K average restaurant profit. The largest single distress event in chicken franchising this cycle.
Every figure on this page is attributed. CSW does not publish estimates as facts — where a number is unavailable it is shown as “—”, and where a figure is derived arithmetically from two published figures it is marked as derived.