Wendy’s Is In A Pickle, And The Beef Is Only Part Of It

When one of Wendy’s largest franchisees filed for bankruptcy last week, rising beef prices grabbed the headlines, but the franchisee’s own numbers suggest the popular chain’s problems go well beyond the cost of a hamburger. Just four months earlier, the franchisee Meritage Hospitality Group was telling shareholders that a turnaround was within reach. “Outlook: Better,” ...