Consolidated Burger Holdings operates more than 50 locations.
Staff Report
A large Burger King franchisee has filed for Chapter 11 bankruptcy protection in Florida.
Consolidated Burger Holdings LLC, along with two affiliates, operates 57 locations in Florida. The company filed for bankruptcy protection on April 14 in the U.S. Bankruptcy Court for the Northern District of Florida.
According to filings, Consolidated Burger Holdings has nearly $37 million in debt. This includes $14 million in secured loans and $21 million in unsecured obligations. The company has listed somewhere between $50 million to $100 million in assets.
Consolidated said it has just $179,000 in unrestricted cash. The company secured $1.6 million in debtor-in-possession financing for reorganization efforts. Now it appears that Consolidated Holdings will look to sell all of its assets through a court-supervised sale.
Based in Destin, Florida, Consolidated Holdings’ Burger King locations are grouped into three regions with Tallahassee and Southern Georgia having 18, South Florida hosting 19, and the Florida Panhandle having 20. Among its restaurants, four locations are in Walmart stores.
As reported by QSR, Consolidated has faced legal battles with its franchisor as far back as 2019. A settlement was reached in September 2024 resulting in new terms and new franchise agreements.
Consolidated reported revenue of $67 million in 2024, marking nearly a $10 million drop from the prior year. The company also posted a $12.5 million operating loss.
Losses have mounted at Consolidated with the franchisee citing impacts of the pandemic, including decreased foot traffic, along with labor issues and increased costs.
Numerous Burger King locations under Consolidated’s watch have also undergone recent remodeling efforts and expenditures, compounding its financial troubles.
