A major Popeyes franchisee has found buyers for most of its Florida restaurants, a significant step in its ongoing bankruptcy case that could keep dozens of locations operating under new ownership.
On June 26, a bankruptcy judge approved the sale of 97 Popeyes restaurants owned by Miami-based Sailormen Inc. to five different buyers for a combined $16.55 million, according to court filings. The approval comes just months after the company sought Chapter 11 bankruptcy protection.
Nearly 100 restaurants sold
Sailormen, which operated about 130 Popeyes restaurants when it filed for bankruptcy on January 15, 2026, has spent the past several months marketing its restaurant portfolio. The approved transaction includes restaurants throughout Florida, with the largest buyer, Pulse Restaurant Group, purchasing 50 locations in cities including Tampa, Tallahassee, Pensacola and Jacksonville.
Other buyers acquired smaller groups of restaurants, allowing the majority of Sailormen’s locations to remain open under new ownership rather than closing permanently.
Some closures still expected
While the sale marks a major milestone in the bankruptcy proceedings, not every restaurant found a buyer. Court filings indicate that roughly 22 locations across Florida and Georgia remain unsold and are expected to close after the court approved the rejection of their leases earlier this week.
Sailormen cited rising labor and food costs, inflation, declining customer traffic and approximately $130 million in secured debt as factors that led to its bankruptcy filing.
The restructuring affects only restaurants operated by Sailormen and does not impact the broader Popeyes chain, which has thousands of locations worldwide. For customers, the latest court approval means most of the franchisee’s restaurants are expected to continue serving customers under new ownership, while a smaller number of underperforming locations will permanently close as the bankruptcy process moves forward.
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