NRA's CFO receives award

The National Restaurant Association's Marvin Irby has been named the recipient of the Nonprofit CFO of the Year Award. The award will be presented at a luncheon on Jan.

JPMorgan Chase CEO joins Yum! Brands' board

Yum! Brands Inc. has announced the appointment of Michael J.

Upper Crust closes 10 units amidst bankruptcy battle

Boston-based Upper Crust has closed 10 of its 17 restaurants in Massachusetts and Washington, D.C., as is navigates through bankruptcy. According to the Boston Herald, the company is trying to find a buyer. Mark G.

GE Capital launches restaurant finance Web tool

GE Capital, Franchise Finance (GEFF) is rolling out a new Web tool, GE SmartChart, to its customers across the U.S. The tool was introduced at this week's Restaurant Finance & Development Conference in Las Vegas. GE SmartChart is designed to...

Round Table refinances senior debt

Round Table Pizza Inc. has completed the refinancing of its senior debt.

Villa Enterprises secures $15M to fund acquisitions

Villa Enterprises Management Ltd. Inc.

Upper Crust Pizzeria files for bankruptcy protection

Boston-based Upper Crust Pizzeria, which was founded in 2001 and now includes 16 locations, has filed for bankruptcy protection. According to, Upper Crust defaulted on a loan issued by TD Bank, and now owes $3.4 million. The company has...

Yum! Brands increases dividend by 18 percent

Yum! Brands Inc.'s board of directors approved an 18-percent increase in the company's quarterly dividend. The quarterly cash dividend will increase from 28.5 cents to 33.5 cents per share and will be effective with the dividend payment to be distributed on Nov.

Australian franchisor acquires Crust Gourmet Pizza Bars

Australian retail food brand manager and franchisor Retail Food Group Limited announced its entry into a conditional Sale & Purchase Agreement (SPA) to acquire the Crust Gourmet Pizza Bars brand system. First established in Sydney in late 2001, Crust has...

QSR franchisee lending up 28 percent this year

Lending to franchise businesses decreased by 3.64 percent from June to July following a 5.73 percent increase in June, according to the Franchise Lending Index from the International Franchise Association (IFA) and BoeFly, an online marketplace connecting small business borrowers...

Papa John's announces three senior level promotions

Papa John's International Inc. has announced that Tony Thompson has been promoted to chief operating officer and president, PJ Food Service. Thompson, who most recently served as executive vice president, Global Operations and president, PJ Food Service, will continue to...

Pizza Hut UK up for grabs

The former chairman of PizzaExpress has submitted a bid to acquire part of Pizza Hut UK. According to the Independent, Luke Johnson, co-founder of private equity firm Risk Capital Partners, is up against at least two other private equity firms...

LevelUp eliminates merchant fees

Mobile payment startup LevelUp is throwing down the gauntlet to other payment networks. It's eliminating all transaction fees charged to merchants who accept its payment method.

Papa John's franchisee receives $6.7M credit facility

GE Capital, Franchise Finance recently provided a $6.7 million credit facility to Pizzerias LLC, a Papa John's franchisee that operates 31 locations in the Miami market.

Franchise lending up 6 percent year over year

Lending to franchise businesses saw a drop of about 0.5 percent from April to May, according to the monthly Franchise Lending Index from the International Franchise Association (IFA) and BoeFly, an online marketplace connecting small business borrowers with lenders. Despite...

Pie Five concept showing store level progress

Pizza Inn Holdings Inc.'s third fiscal quarter ended March 25 and included a net income decrease of $0.4 million year-over-year to $52 thousand, compared to net income of $0.4 million for the same quarter of the prior fiscal year. The...

Heartland Payment Systems launches SmartLink for restaurants

Heartland Payment Systems has launched its SmartLink for Restaurants, a managed network service that provides secure, high-speed transport of card transaction data and back office information. SmartLink for Restaurants is designed to let restaurateurs break free of IT chores and...

Chuck E. Cheese's plans marketing makeover to reverse slipping sales

CEC Entertainment Inc., parent company of Chuck E. Cheese's, reported its Q1 financial results Thursday, which included a drop in revenues and profit. Total revenues for the quarter decreased 3.8 percent, or $9.6 million, to $246.8 million from $256.4 million for the first quarter of 2011.

Yum! Brands names new president and CFO

Louisville, Ky.-based Yum! Brands Inc. has announced the promotion of Rick Carucci, 54, to president, reporting to chairman and CEO David C. Novak. The company also announced the promotion of Patrick Grismer, 50, to chief financial officer, reporting to Carucci. Carucci has served as the company's CFO since 2005.

Restaurant industry turns in strongest post-recession quarter

Driven by solid same-store sales and traffic results and an increasingly bullish outlook among restaurant operators, the National Restaurant Association's Restaurant Performance Index (RPI) reached its post-recession high in March. The RPI – a monthly composite index that tracks the...

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