Filing Alert: Sailormen Chapter 11

Update (Jan. 15, 2025): A comprehensive case summary is now available for the Chapter 11 bankruptcy filing of Sailormen, Inc.

Sailormen, Inc., a Miami, FL-based Popeyes Louisiana Kitchen franchisee operating 136 restaurants in Florida and Georgia, filed for Chapter 11 protection on Jan. 15 in the U.S. Bankruptcy Court for the Southern District of Florida.

The filing was precipitated by an "exigent" threat of a federal receiver appointment sought by senior secured lender BMO Bank N.A., which filed a complaint against the debtor in December 2025 following defaults under a credit facility with approximately $130 million outstanding.

Despite reporting $233.5 million in 2025 sales, the debtor incurred an $18.8 million net operating loss driven by inflation, labor shortages, and lease guarantee liabilities from 16 previously sold locations that subsequently closed. The debtor intends to use the Chapter 11 process to stabilize its business and conduct an orderly marketing and sale process under court supervision, rather than ceding control to a lender-appointed receiver.

Sailormen, Inc. reports $100 million to $500 million in both assets and liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 26-10451.

Top Unsecured Claims

Key Parties

Counsel:

• Bradley S. Shraiberg
  Shraiberg Page PA
  Email: bss@slp.law

Signatories:

• David Baker – CRO

Equity Security Holders:

• Interfoods of America, Inc. – 100% Equity Interest

Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.

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