Franchisees breathe new life into bankrupt brands

05/29/2012 | Entrepreneur online

Ground Round, Sizzler and Bennigan's all found themselves in bankruptcy court at different times, and franchisees saved all three brands from oblivion. "If they didn't have such an abrupt closing, someone might have had time to swoop in and buy the company. But it opened a window for the franchisees to step up and do it themselves," said Jack Crawford, who led the 2004 franchisee buyout of Ground Round.

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