Dewitt County, IL Restaurants and Food Businesses For Sale

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31 Kentucky Fried Chicken Franchises -IL, WI, IN
31 Kentucky Fried Chicken Franchises -IL, WI, IN

Clinton, IL

Our firm has been retained to sell or obtain an investor in some or all of 31 Kentucky Fried Chicken (“KFC”) franchises owned by Bartlett Management Services, Inc., and two affiliates, and located in three states (the “Company”). The operation is divided into three different geographical divisions (Central Illinois, Northern Illinois/Wisconsin and Indianapolis), with its corporate headquarters located in Clinton, IL. KFC Corporation, based in Louisville, Kentucky, is the world’s most popular chicken restaurant chain, with 21,000 outlets in more than 130 countries around the world. The Company’s current owner purchased the Company in 2008, after working for the previous owner since 1997, bringing with him over 20 years of KFC experience. He served initially as an Area Coach, Senior Quality Control Representative, and Director of Operations, and then became the Chief Operating Officer for all three divisions. The key focus of current and previous ownership was centered on building a team of highly trained professional managers, Area Managers, Area Coaches and Operational Directors. The 2008 purchase consisted of buying the stock of the Company that included a lease of the equipment, direct third-party leases for all real property in which the restaurants were located (plus several that the Company owned directly), and a management agreement for accounting and advisory services. Over the years, the current owner engaged in sale-leasebacks of several of the owned locations, so that the Company now owns four of its locations and leases the other 27. All equipment associated with the initial equipment lease has been replaced. The costs involved with the equipment lease, management/advisory agreement, and real property leases, as well as the recession of 2008-2010, resulted in a decrease in revenue from $42 million to $32 million, and an inability to sustain positive cashflow. Seeking court approval for an auction on December 5, 2018 for substantially all of the Company’s assets. This is an excellent opportunity to purchase or invest in any single or combination of these 31 franchises of an established and world-renowned restaurant chain, with a solid management team in place. By order of the US Bankruptcy Court, Central District of Illinois, Case Nos. 17-71890, 17-71892, and 17-71893

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