An Arby's franchisee with stores in Wake Forest, Raleigh, Garner, Apex, Cary and Clayton has filed for Chapter 11 bankruptcy in Florida court.
In all, four companies filed for bankruptcy Wednesday: Focus Ten of Tampa, Inc., Focus Ten of Florida, Inc., Focus Ten of Raleigh, Inc. and Focus Ten of Greensboro, Inc.
There are no plans to close any of the stores, which combined employ about 400 people, said attorney Rod Anderson of Holland & Knight LLP, who is representing the companies. All four companies are owned by the same brother and sister team, he said.
The companies plan to reorganize, ask for lease concessions from landlords and make other cost-cutting moves, Anderson said. Of the 25 stores, 11 are in Florida, with another three in Virginia and the remaining 11 in North Carolina.
Click read more for a list of the affected locations in North Carolina.